UNDER EMBARGO UNTIL 09 July 2015 15:30
Interest rate stability is welcomed by small firms, says FSB
Responding to the Bank of England Monetary Policy Committee’s decision to hold interest rates at 0.5%, John Allan, National Chairman, Federation of Small Businesses, said:
"Small firms are still assessing the impact of yesterday’s budget on their business. At this time and in light of the continued international uncertainties, maintaining interest rates at their current level will be welcomed by businesses. It will help to give them the confidence to invest in their firms, hire new staff and raise wages.
"When the time does come to raise rates, it should be done gradually to allow businesses to absorb costs and plan ahead."
Area Administrator - North & Midlands
The Federation of Small Businesses is the UK's largest campaigning pressure group promoting and protecting the interests of the self-employed and owners of small firms. Formed in 1974, it now has around 200,000 members across 33 regions and 188 branches.
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