Bank Seeks Further Evidence Before Rate Cut

Bank Seeks Further Evidence Before Rate Cut

Reacting to the Bank of England’s latest interest rate decision, David Bharier, Head of Research at the British Chambers of Commerce, said: “Today’s decision was widely expected, and it’s clear the Bank of England is taking a cautious approach before making a much-anticipated rate cut. “Yesterday’s data showing CPI inflation…

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Inflation at Target Raises Rate Cut Hopes

Responding to the latest inflation data published by ONS, David Bharier, Head of Research at the British Chambers of Commerce, said: “Today’s data showing CPI easing to the Bank of England’s 2% target, is a further sign that the UK is exiting the inflation crisis which began in late 2020.…

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BCC Economic Forecast

The British Chambers of Commerce (BCC) Quarterly Economic Forecast has slightly upgraded growth expectations for 2024 and 2025, following a stronger start to the year. However, the forecast for 2026 remains unchanged. UK Economic Outlook   The UK economy is expected to continue its recovery after the short recession at the…

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Clear Action Needed to Help Firms Navigate Digital Future

The British Chambers of Commerce has launched its Digital Revolution report outlining a framework to create a connected, dynamic and secure future for UK businesses.  Among the recommendations are:  Government should appoint an AI champion for SMEs who will help spearhead a programme to improve business use of artificial intelligence.  Government…

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Business Manifesto Outlines 5-point Action Plan

A five-point plan for immediate action by the new government is at heart of the British Chambers of Commerce Election Manifesto published today.  The BCC wants to see: An Industrial Strategy with green innovation at its heart. Better skills planning, bringing businesses and training providers together. Business rates reform to…

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Easing Inflation Further Supports Rate Cut Calls

Reacting to this morning’s inflation data, David Bharier, Head of Research at the British Chambers of Commerce, said:      “Today’s data showing CPI inflation is at 2.3% is positive news that should help settle nerves and increase the likelihood of an interest rate cut in the coming months.     …

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Asia-Pacific Trade Bloc Deal ‘A Boost For Business’

Reacting to the UK’s ratification of the deal to join the Comprehensive and Progressive agreement for Trans-Pacific Partnership (CPTPP), William Bain, Head of Trade Policy at the BCC, said:     “There are few multi-national trade agreements like this one. The UK’s addition to this bloc will open up new opportunities for both inward and outward…

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BCC Welcomes MAC Recommendations

Responding to the Migration Advisory Committee recommendations to Government on Graduate Visas, Jane Gratton, Deputy Director of Public Policy, said:    “This is a set of sensible recommendations from the MAC, which we hope the Government will take on board.    “While there are signs that recruitment difficulties are easing,…

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Skills Must Remain the Focus as Labour Market Cools

Responding to the latest labour market data published by ONS this morning, Jane Gratton, Deputy Director Public Policy at the British Chambers of Commerce said: “Employers across the UK will welcome further signs that the labour market is cooling, but more must be done to ensure they can access the skills they need.…

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UK Goods Trade Struggling For Impact

Responding to the latest ONS Trade figures published this morning, William Bain, Head of Trade Policy at the British Chambers of Commerce, said:       “The first quarter of 2024 shows the challenges UK goods exporters face, with a further drop in sales to both EU and non-EU markets, despite a…

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