The Bank of England should overlook current inflation figures and keep interest rates low for as long as possible, APA has said today.
APA backs the British Chambers of Commerce claim that the threat of a major setback to economic growth is currently much greater than the danger of a surge in inflation. This was after the Office for National Statistics reported that Consumer Prices Index inflation rose by 0.1 percentage points to 3.3 per cent during November 2010.
Gareth Osborne of APA said: "The marginally higher than expected inflation figures were disappointing, but are still broadly in line with the Bank of England's own forecast and given the dangers facing the economy, we would urge the MPC to persevere with current expansionary policies and maintain low interest rates for as long as possible. We must do everything we can to avoid a relapse."
APA believes the New Year already looks gloomy with VAT increases looming and likely hikes in the price of petrol. Members are asked to feed back unreasonable or exploitative price increases allegedly linked to these and other economic pressures. APA is currently considering its own response and is hoping to find ways to prevent increases being passed n to Members.
Gareth, APA
APA backs the British Chambers of Commerce claim that the threat of a major setback to economic growth is currently much greater than the danger of a surge in inflation. This was after the Office for National Statistics reported that Consumer Prices Index inflation rose by 0.1 percentage points to 3.3 per cent during November 2010.
Gareth Osborne of APA said: "The marginally higher than expected inflation figures were disappointing, but are still broadly in line with the Bank of England's own forecast and given the dangers facing the economy, we would urge the MPC to persevere with current expansionary policies and maintain low interest rates for as long as possible. We must do everything we can to avoid a relapse."
APA believes the New Year already looks gloomy with VAT increases looming and likely hikes in the price of petrol. Members are asked to feed back unreasonable or exploitative price increases allegedly linked to these and other economic pressures. APA is currently considering its own response and is hoping to find ways to prevent increases being passed n to Members.
Gareth, APA
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