BCC warns 'hasty' rate rise could derail recovery

clock • 2 min read

The British Chambers of Commerce (BCC) has warned the government against "prematurely" raising interest rates as its latest quarterly economic survey suggested challenges remain for the UK's recovery.

Director general of the BCC John Longworth said the UK "cannot afford populist decision-making" that could undermine its long-term success. The business network's latest quarterly economic survey covering Q2, which collates the views of some 7,000 UK businesses and is monitored by the Bank of England and Treasury, showed most of its key balances had fallen back from an "unexpected" surge seen in Q1. For example, every BCC export and investment balance fell in Q2, for both manufacturing and services. In its most recent economic forecast, the BCC predicted quarterly GDP growth for Q2...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation dips to 3.4% in May but upside pressures persist

UK inflation dips to 3.4% in May but upside pressures persist

Services CPI still high

Sorin Dojan
clock 18 June 2025 • 2 min read
UK ups defence spending to 2.6% of GDP by 2027 as billions pledged

UK ups defence spending to 2.6% of GDP by 2027 as billions pledged

Chancellor delivered Spending Review

Sorin Dojan
clock 11 June 2025 • 4 min read
Chancellor to pledge billions to 'invest in Britain's renewal' in Spending Review

Chancellor to pledge billions to 'invest in Britain's renewal' in Spending Review

Rachel Reeves to unveil Spending Review later today

Linus Uhlig
clock 11 June 2025 • 1 min read