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CITY VIEWS: WAS THE BANK OF ENGLAND RIGHT TO LEAVE INTEREST RATES ON HOLD?

JAMES BREWINS | NMB
“Holding interest rates is not an ideal situation for savings. It is good for the economy and at the moment low rates are stimulating it. Really it’s a guessing game; all ifs and buts at the moment.”

JOHN DAVIS | RPS GROUP
“Yes, British business needs encouragement, especially with the fragile state the current economy is in. Until there is a definite upturn, it is a good idea to keep interest rates on hold.”

KEVIN CLARKE | LLOYDS TSB
“Yes, I think that it is a good idea to hold interest rates. The one thing we need is a stable approach to policies out of the Bank of England. This will help the country as a whole.”

PAUL MANNING | DGS MARINE
“No. Keeping interest rates so low keeps sterling low which is good for exports, but keeping interest rates low is bad for people who are older or unemployed and relying on their deposits and savings to gain interest.”