WHAT a relief!

That's the verdict from business throughout Bury.

And it's in response to the news that interest rates are to be reduced, thereby creating a better economic climate for companies.

For local business-to-business support agency Bolton and Bury Chamber has welcomed the decision by the Bank of England to cut interest rates to 5.00 per cent.

Said chief executive Mr Andrew Ratcliff: "This will provide much needed relief to some of our hard-pressed manufacturers and boost business confidence which is quavering amid clear signs of global slowdown.

"This move will help buffer the effects of world recession, which is threatening to bite deep into our domestic economy. "