CBI STATEMENT ON BANK OF ENGLAND INTEREST RATE CUT
CBI WELCOMES RATE CUT WHICH WILL ENCOURAGE CONSUMER CONFIDENCE
John Cridland, CBI Deputy Director-General, said: “This was an essential and timely rate cut which the CBI had called for to help restore business and consumer confidence.
“We have now seen major steps by both the Government and the Bank of England to support the economy and the financial system. These will be welcomed by business, and will help the economy at a critical time.
“We also applaud the coordinated interest rate cuts by key central banks, which will benefit the global economy and stabilise financial markets.”
8 October, 2008
Notes to Editors:The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. The organisation is also the UK's official business representative in the European Union, which generates more than 50 per cent of regulation affecting British firms.
Media Contact:CBI Press Office on 020 7395 8239, out of hours pager 07623 977 854, or email at press.office@cbi.org.uk