| The Bank of England has cut interest rates by a quarter of a percent to 5.25% to help stimulate economic growth in the UK.
Business groups have welcomed the cut, however there is dissention over whether rates should be reduced further later in the year.
The British Chamber of Commerce (BCC) has called for the Monetary Policy Committee (MPC) to reduce interest rates to 5% “as early as is practically possible”, whereas the Confederation of British Industry (CBI) is concerned that further cuts leave UK at risk of inflation.
The Bank of England stated in January that the risk of inflation had “worsened markedly”.
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