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Pastimes : The Hot Button Questions:- Money, Banks, & the Economy -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (65)	10/10/2002 7:30:42 AM
From: maceng2	Read Replies (1) \| Respond to of 1417

UK BCC warns of threat of deflation as BoE kept rates on hold [Like yeah, raising rates will do business and home owners with record mortages & debts loads of good.. pb] ananova.com The British Chamber of Commerce warned of a threat of deflation as the Bank of England decided to keep rates on hold for the 11th consecutive month. "Prices are falling in a number of industries, and we urge the BoE to be wary of the threat of deflation, which could compound the economy's problems," said David Frost, the organisation's director general. The BoE, he said, "must be ready to act in future if this threat persists." The BCC welcomed the monetary authorities' latest rate action, stressing "keeping interest rates on hold will help add some much-needed stability to the economic environment that businesses face, allowing more scope for new investment." "The manufacturing sector is doing its best to adapt in this tough climate, but needs the continued assurance of low interest rates," he said. © AFX News