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News - 6 June 2014

Interest rates held at 0.5%

 The Bank of England have held UK interest rates at the record low of 0.5% for another month, however, the governor Mark Carney, added that the economy had "edged closer" to the point where interest rates would need to rise.

 
David Kern, chief economist at the British Chambers of Commerce said: "The decision to keep interest rates and quantitative easing on hold was the right one".
 
Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“Recent business surveys have indicated that the economy is continuing to enjoy strong growth, a 0.8% in the first three months of 2014 and the unemployment rate has fallen to a five-year low of 6.8%.”
 
Despite Mr Carney's recent comments, minutes from last month's meeting of the Bank's Monetary Policy Committee (MPC) suggested some members were softening their stance on raising interest rates.
 
While all nine MPC members voted to keep rates unchanged, the minutes said the views of some members on raising rates were becoming "more balanced".
 
For those who are looking for a more personal approach on a range of business related issues, contact us at ABDS.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
Brilliant with numbers  
Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
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