The Bank voted to freeze the base rate at 5.25 per cent for a second successive month – a move which had been widely predicted.
“This is especially true for smaller firms and those in the consumer-facing sectors, who have had to cope with the perfect storm of rising borrowing costs and decreased customer demand.” David Bharier, head of research at the British Chambers of Commerce, said: “SMEs have been operating in an uncertain climate for too long, with policies constantly chopping and changing over the past few years.
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