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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: zonder who wrote (3906)	4/8/2004 9:04:44 AM
From: mishedlo	of 116555

BoE's decision to hold rates at 4.00 pct wins manufacturers some respite - TUC Thursday, April 8, 2004 12:34:43 PM LONDON (AFX) - The Bank of England's decision to keep interest rates unchanged at 4.00 pct has given hard-pressed manufacturers some much-needed respite, according to the Trades Union Congress The TUC's general secretary Brendan Barber said the Bank's decision will be "a confidence boost" to a manufacturing sector still struggling to recover. "The Bank was right to ignore the herd instinct of the city urging a higher rate," he said Figures earlier this week suggested the manufacturing sector is still in the doldrums despite the pick-up in world trade The office of National Statistics said manufacturing output in February slumped 0.6 pct against expectations of a healthy rise. fxstreet.com

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