Interest rate rise

11 May 2007  

/>Sue Robinson’s statement comes after yesterday’s announcement that interest rates will rise by 0.25% to 5.5%. The rise is the second since Janu

/>“Interest rates have been put up four times since August 2006,” said Sue. “And we have yet to see the result of these increases on the econ

/>“Consumers face rising household costs following previous interest rate rises, above-inflation rises in household costs, including council tax bills, as well as the need to pay off d

/>“All of these costs are impacting on consumer spending, which has a knock-on effect on business,” she contin

/>Sue called on the Bank of England to allow a period of reflection, to measure the impact of the interest rises on the economy and the motor indus