The BCC comment on the BoE's Quarterly Inflation Report.
Commenting on the Bank of
"As the economy continues to recover, low interest rates remain crucial to maintaining business confidence and stoking business investment.
"It is not yet time for the Bank of
"Reinforcing business confidence will be the key test of whether the forward guidance policy is a success or failure. While we think that the Bank's GDP forecasts are on the optimistic side, this should not adversely affect businesses' view that the MPC will do its best to maintain the recovery. It is also important that any concerns about the housing market will not push the MPC into premature rate rises that could damage the business confidence. Any intervention to cool the housing market, if needed, should be using policy tools other than rate rises."
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