UK executives call on Bank of England to cut rates - reports

According to reports by Bloomberg, mounting fears over an incoming recession drove the Institute of Directors' (IoD) Economic Confidence index (ECI) to a four-month low. The index dropped to -28 in December from -21 in November, the lowest level since August and close to 2023's lowest score. The ECI measures UK company directors' optimism regarding the economy for the next 12 months. IoD director of policy Roger Barker argued that a rate cut would be "justified" to help kickstart business confidence, as executives ended 2023 with a "relatively depressed" sentiment. There has als...