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