A LOCAL business leader has welcomed the Bank of England's Monetary Policy Committee's decision to hold interest rates.
Mr Andrew Ratcliff, chief executive of Bury and Bolton Chamber, said: "Holding interest rates will help stabilise the economic environment that local businesses operate in. The manufacturing sector still faces tough challenges.
"It is doing its best to adapt to a tough climate affected by global slowdown and will welcome the continued assurance of low interest rates."
He added: "Prices in a number of industries are, however, falling, so the Bank must be wary of the threat of deflation, which could pose a serious threat."
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