BIP Features »

July 10, 2020 – 8:00 am |

A Coventry-based driverless vehicle specialist has beaten off some of the world’s largest car brands and manufacturers to secure Autocar’s Innovation Award.
Go to the main page

Read the full story »
BIP business guides & tools

Please register/login to access content

BIP Access to Finance

Access to Finance,Grants & Business Support

BIP Features

West Midlands business highlights, opportunites and networking

Bips and Pieces

All the best from the web handpicked out by our team, including the World of tech

Business News

Latest West Midlands news affecting your business

Home » Business News

UK Businesses Should Prepare for Interest Rate Hike…

Submitted by on August 22, 2014 – 6:00 am |

Carl Hasty, Director of international money transfer specialist Smart Currency BusinessThe Bank of England (BoE) has revised its growth forecast for the year from 3.4% to 3.5%. However, BoE Governor Mark Carney has dampened hopes of an imminent interest rate rise, cautioning that any increase would be gradual and limited. The BoE expects rates to be lower than those of ‘yesteryear’, forecasting them to hit only 2.25% in 2017.

“This instance of monetary policy is governed by many factors, like slack in the unemployment market, lower-than-desired productivity in the UK economy, and inflation still exceeding wage growth,” says Carl Hasty, Director of international payments specialist Smart Currency Business.

“Although Carney has promised that any interest rate rises will be gradual, businesses need to plan in advance to ensure that they can keep their cash flow healthy and cut costs where possible. Any businesses that have not done so should start thinking about it now.”

Go to the main page

Tags: , , , , , , , , , , , , ,

We use Cookies - By using this site or closing this you agree to our Cookies policy.
Accept Cookies