11 January 2001, 15:59 BoE holds repo -- 3 (TUC disappointed; says no time for caution)
The Trades Union Congress was not impressed by the decision to hold
rates, arguing that this is not time for caution.
"With little or no inflationary threat, the U.S. cut provided an
ideal opportunity to lower rates here," said TUC General Secretary John
Monks.
Monks said a cut would have been good for confidence as well as
helping to realign the exchange rate. The recent fall in sterling
versus the euro has already brought some relief to hard pressed
manufacturing exporters, he added.
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