The Bank of England interest rates – reaction from Chief Economist

“It was widely anticipated that the Bank of England would maintain the bank rate given the continued uncertainty in the UK market. Although the UK’s long-term economic potential exceeds that of most other European economies, Dun & Bradstreet has issued a ‘deteriorating’ country risk outlook in response to slowing economic growth, stagnation in interest rates and fluctuations in the value of Sterling – which has dropped further against the dollar.

“Following the appointment of our new Prime Minister, we believe there is an increased risk of a no deal Brexit in October and that a general election before the end of the year is likely. With so much still to be confirmed ahead of October’s Brexit deadline, planning for the various potential scenarios is a daunting task for many businesses. However, having a full view of all existing customer and supplier relationships to assess potential impact and identify new opportunities will be key to ensuring successful business performance.”

Markus Kuger, Chief Economist at Dun & Bradstreet