Low Inflation Gives Confidence for Growth

Commenting on the release of official data showing that CPI inflation has fallen to 1.9%, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

“This fall in inflation to below the Government target is good news for businesses and underlines the fact that the Bank of England was right to remind us last week that low interest rates are here for some time to come. The economic signs are looking good at the moment but it is important to remember that if the recovery is to be sustainable then businesses must have the confidence to invest for future growth. We are picking up some signs from our surveys that this is happening but it needs to improve further. Continued government support for our businesses is essential to facilitate an accelerating rate of recovery and, with much political attention on the referendum debate right now, it is vital that politicians do not lose sight of the need to get our economy back on a path of solid growth.”