CIPS backs bank over quarter-point rate cut

8 August 2001
More news

09 August 2001

CIPS has welcomed the Bank of England's interest rate cut of 0.25 per cent to 5 per cent, the lowest rate since August 1999.

"We have been calling for a cut, especially to help the manufacturing sector that has been in the doldrums for five months and getting worse," said Melinda Johnson, CIPS's head of policy.

This is the fourth time this year the bank has cut the cost of borrowing. According to the latest purchasing managers' index from CIPS, the manufacturing sector contracted further in July, with intermediate goods makers being hit particularly hard.

SMaug2001

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE