The Bank of England has left interest rates on hold at 0.75% as expected but flagged “greater uncertainty” around the Brexit negotiations.


The business community sidesteps a major shake up as the Bank of England decides against an interest rate rise. Brexit remains the major source of anxiety for business owners, with many concerned for the future if a conciliatory deal cannot be reached with the European Union. This decision by the Bank could provide some relief, giving Banks and the government time to make the uncertain future a little sharper.

The Bank’s Monetary Policy Committee (MPC) voted 9-0 to leave rates unchanged at its September Meeting. This was in part due to the mounting fears concerning the undefined conditions of the UK leaving the EU. During the meeting, the Bank reported that businesses across the UK have held back on investment in response to the uncertainty of the environment. The forecast for economic growth was raised to 0.5 per cent in the third quarter, however, partly due to the recent upturn in consumer spending.


Ruth Gregory at Capital Economics said she expects two rate rises next year and another two in 2020, bringing rates to 1.75%, assuming a Brexit deal was struck and the economy held up well.

Whatever decisions come out of Threadneedle Street, businesses can- and should- prepare for the fallout. Whether their cash flow will be punctured or elevated, attention should be paid to business finances to ensure their durability in times of crisis. At the Credit Protection Association, we have eased our Members’ torment from late payment and rate rises, strengthening their financial strength and creditworthiness.

CPA provides its Members with all they need to work effectively: credit information, credit protection and debt recovery. Our debt recovery service recovers new and old debt and repairs any gaping holes in cash flow. In addition, our credit reports, credit rating information, directorship databases and County Court data all protect our Members from bad payers and prepare them for any future crises.

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