News Release
Governor's Statement - Interest Rates
30 October 96
Interest rates were increased by ¼ % today, to 6%.
The Governor said
"I very much welcome the Chancellor's decision, at our meeting this morning, to raise interest rates by ¼ %. Moving now to moderate the accelerating pace of the economic upswing is likely to mean that we will need to tighten policy by less than we would otherwise. It improves the chances of achieving the Chancellor's inflation target, and so also of sustaining the expansion into the medium-term."
