For immediate release 5 July 2007
STUC Comment on July Interest Rates Decision
Speaking after the MPC’s decision to raise interest rates to 5.75%, Grahame Smith, STUC General Secretary, said:
“This latest rise is another blow for Scottish industry. A period of stability is now required in order that the impact of recent rises can be properly assessed. If the MPC presses ahead with more rises in the short-term, it risks causing lasting damage to the economy.”
ENDS
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Stephen Boyd 07976 978 355