LONDON (AFX) - The British Chambers of Commerce urged the Bank of England's Monetary Policy Committee to cut interest rates by 25 basis points to 5.75 pct on Thursday at the conclusion of its two-day monthly meeting.
BCC chief economist Ian Fletcher said a pre-emptive strike by the BoE would reassure UK business and investors at a time of rising economic uncertainty.
"Decisive action is necessary to limit the knock-on effects of weaker global demand on the UK economy," Fletcher said.
"Given the benign inflation outlook, and with manufacturers and exporters particularly at risk from a global downturn, the case for a quarter point cut on Thursday is compelling," he said.