Interest rate fall may not alleviate challenges for business says Chamber - East Midlands Chamber

Interest rate fall may not alleviate challenges for business says Chamber - East Midlands Chamber

East Midlands Chamber has cautiously welcomed the Bank of England’s 0.25% cut in the interest rate to 4.25% but warned that higher costs for businesses and price pressure persist. Director of Policy and Insight Richard Blackmore said: “Businesses looking to borrow will benefit from this lower interest rate, but when you take into account the sheer weight of cost challenges businesses face right now – inflation still above the government’s 2% tar…