'A step in the right direction': Hampshire Chamber responds to base rate cut
Hampshire Chamber's Chief Executive and Executive Chairman Ross McNally has responded to the Bank of England's decision to cut the base rate by 0.25% to 4.25%.
Ross said: “This is a step in the right direction, a cautious measure of relief at a time when there are indicators of lower UK inflation after such a long period of enduringly high rates.
"The move will reduce borrowing costs and ease pressure on millions of households and businesses.
"It is a measured response to downward inflation amid ongoing uncertainty around global trade tariffs.
"Most businesses expect the Bank to remain cautious and tread carefully on future rate cut decisions.
"The Bank is right to take balanced, measured steps and be responsive to the wider economic picture while continuing the fight against inflation.”