EEF comment on MPC decision

Commenting on the decision by the Bank of England on interest rates, David Ost, EEF, the manufacturers’ organisation North West Region Director, said: “Recent data suggesting the recovery may now have some legs will have supported another no change decision this month.

"While the economy has moved in a more positive direction it’s unlikely that there will be major change to the Committee’s medium term view on inflation and growth in next week’s Inflation report.

"The main event from the MPC will now be more detail on its forward guidance plans alongside the Inflation report, which will frame the debate on monetary policy in the months ahead.”