Monetary Committee

The monetary committee says that they will be “keeping a close eye on businesses” by this they mean that they keep an eye on price increases that businesses are having to make and the job cuts some other businesses have to make. The CIPS overall activity index remains at 51.3 in March, the same figure as in February. “The stable activity assessment reflected stable orders, weaker output, but firmer employment.” And “Overall, activity not particularly impressive, but as ever, the inflation balances highlight the big obstruction to more aggressive interest rate cuts.” Said the bank of England’s monetary committee and I would agree.