Friday, December 05, 2008
Interest rate cut must be passed on, says RMIF
'The Bank of England's decision to further reduce the interest rate is positive news for consumers and business, but it is vital that the saving is passed on to restore confidence in the marketplace,' said Sue Robinson, Director of the Retail Motor Industry Federation (RMIF), representing the UK's retail motor sector, commenting on the announcement today (Thursday 4 December 2008).
The UK interest rate has been reduced to 2 per cent from 3 per cent.
Robinson adds: 'Consumers and business will feel more confident in the economy once they feel the effect of a lower cost of borrowing.'
DATED: 05.12.08
FEED: AW
