Monday, August 18, 2008
BCC plead for interest rate cuts
"Recession looms in the UK in the next six to nine months as firms face "a difficult and risky climate", the British Chambers of Commerce warns. UK growth will be slightly negative or zero in the next two or three quarters, but a major recession is unlikely, the BCC says in its latest forecast. But prospects will be worse if interest rates are not cut soon, it adds." More short-termism from the BCC.