TUC: Bank of England must keep moving with interest rate cuts to support growth

Friday 13 Dec 2024 @ 12:15
WiredGov Newswire (news from other organisations)

Commenting on today’s (Friday) ONS data showing monthly growth fell by 0.1% in October, TUC General Secretary Paul Nowak said:

“The Tories left behind a failed economy.

“We’re still seeing the effects of that with growth in the doldrums. And families remain under pressure from high interest rates and low wages, resulting in weak household spending.

“It’s vital the Bank of England keeps moving with interest rate cuts.

“The government’s plan to invest in Britain is important – but they can't do it on their own.”

Editors note

GDP figures: Today’s GDP data is available at: https://www.ons.gov.uk/releases/gdpmonthlyestimateukoctober2024

Original article link: https://www.tuc.org.uk/news/tuc-bank-england-must-keep-moving-interest-rate-cuts-support-growth

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