23 April 2002, 14:43 UK's CBI says rates should stay on hold for 'good time to come'
LONDON (AFX) - UK interest rates should stay on hold "for a good
time to come", Confederation of British Industry chief economist Ian
McCafferty said.
Speaking at a press conference after the CBI released its
industrial trends quarterly survey, Charles Miller-Smith, chairman of
the organisation's economic affairs committee, said the comment is
"valid for the rest of the world".
McCafferty said there is no underlying inflationary pressure in the
UK economy.
"This is based on a combination of the inability of manufacturers
to have any pricing power plus reports that manufacturing and services
(wage) settlements are at all-time lows," McCafferty said.
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