STUC on Interest Rates decision

February 5th 2009

STUC on Interest Rates decision

February 5th 2009

Commenting on the MPC’s decision to cut interest rates by half a point to 1%, Grahame Smith, STUC General Secretary, said:

“This was the correct decision and the STUC expects further falls over the coming months. However, with the economy continuing to deteriorate and interest rates already at a record low, the Government and Bank of England must give immediate consideration to other measures including quantitative easing”.

ENDS

For further information Contact

Stephen Boyd, Assistant Secretary, STUC

Mobile: 0141 337 8100

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