Interest rate rise to 4% will frustrate firms looking to borrow
The East Midlands Chamber has said the Bank of England’s decision to increase the interest rate by a quarter point to 4% from 3.75% - the first rise in three years – could hinder businesses looking to borrow to invest to grow. Chief Executive Scott Knowles said: “While the Bank of England will have been keen to mitigate the soaring inflation we’re seeing, which now sits far too high at 3.5% and a mile off Government’s 2% target, businesses considering […]