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Retail NI Responds to Interest Rate Increase

Following today’s decision by the Bank of England to increase interest rates, Retail NI has urged the Bank of England to be cautious and avoid any rapid increase that could hit household spending.

Retail NI Chief Executive Glyn Roberts said:

“While we appreciate the wider economic pressures such as inflation, Retail NI would urge the Bank of England to adopt a cautious and very gradual approach to any further interest rate increases”

“With consumer confidence still very sluggish, it would be a major mistake for a rapid hike in interest rates, given the restrictions it would place on household spending”

 

Glyn Roberts 07515710517