Press Release
FSB reaction to interest rate cut
8 October 2008
The Federation of Small Businesses (FSB) today welcomed the Bank of England’s decision to cut interest rates by half of one per cent from 5 per cent to 4.5 per cent.
Commenting on the surprise move, FSB National Chairman, John Wright, said:
"This should be very helpful to Britain's small businesses but the welcome cut will only come into play if the banks follow through and reduce their charges to small businesses accordingly. We would urge the Government, now that it has a stake in the banks, to ensure all base rate cuts announced by the Bank of England are honoured by the clearers."
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