Press Release from the IoD:
Commenting on the latest GDP figures, Graeme Leach, Chief Economist at the Institute of Directors said: “We’re not back in recession but with numbers like these it might feel as though we are."
Press Release from the IoD:
In its latest monthly UK Economic Outlook the Institute of Directors (IoD) says there is no case for raising interest rates this year. Raising interest rates now, when broad money supply growth is so weak, would be unprecedented. At no time in the past 25 years have interest rates been raised when the broad money supply wasn’t experiencing double digit growth. Doing so now, when the broad money supply is flat at best, risks a double-dip recession.