CBI comments on interest rate decision

Rain Newton-Smith, CBI Chief Economist, said:

“Signs of a rebound in sentiment since the start of the new decade were clearly enough to keep interest rates on hold.

“Providing that Brexit uncertainty continues to wane - and we see steady progress in the negotiations with the EU - we should see some improvement in economic growth over the course of this year.

“It’s vital we find a pathway to a deal that works for all sectors of the economy, so that businesses get the clarity they need to further invest, create jobs and grow.

“A deal that ultimately protects people and prosperity will unlock the UK economy’s long-term potential.”