Commenting on the MPC’s decision to hold interest rates at 5%, Grahame Smith, Scottish Trades Union Congress (STUC) General Secretary said:
“While this decision does not come as a surprise, it is disappointing nonetheless.
“Limiting the extent of the economic downturn must be the priority and therefore a cut is required next month. With oil prices falling we can be confident that inflation should fall back later this year. The consequences of a recession could be with us for years to come”.
ENDS
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