The surprise decision by the Bank of England’s Monetary Policy
Committee to cut interest rates by 50 basis points to 4.5 per cent
was welcomed by the head of the body representing UK motor
retailers.
“The Bank of England’s decision to cut the interest rate is
positive news for the economy, and will hopefully help rebuild
consumer confidence,” said Sue Robinson, director of the Retail
Motor Industry Federation’s National Franchised Dealers
Association.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The Bank of England’s move was mirrored by other national
institutions, with the central banks of the USA, Canada,
Sweden and Switzerland and the European Central Bank all taking
similar action in a co-ordinated move.
Robinson added: “Consumers desperately needed this long-awaited
move, along with other bank support measures put in place by
government this morning. All these moves should help to instill
consumer confidence and will also help businesses at this difficult
time.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
