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News Release from: Manufacturing Technologies Association | Subject: Interest rate hold
Edited by the Manufacturingtalk Editorial
Team on 10 March 2008
Interest rate hold is helpful, says MTA
MTA, the UK Manufacturing Technologies trade association, has welcomed the interest rate hold but believes the Bank of England must lower interest rates further still to properly support manufacturing
The manufacturing technologies sector is currently performing well, with MTA members reporting a quarter on quarter rise in business during 2007 and predicting a 0.8% increase in orders in the first quarter of 2008 against those placed in the final quarter of 2007 MTA External Affairs Manager, Simon McVicker commented, "Maintaining the current interest rate is a positive step, manufacturing is currently performing well and our members appear cautiously confident that 2008 will continue the quarter on quarter growth in orders that was seen last year
We are keen for the Bank of England to lower interest rates next month to further support our member companies and to maintain growth in other sectors of the economy.
A further cut in rates should help the UK exchange rate and therefore the exports which many of our members rely on".
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