BOE Action Not Enough as U.K. Business Pleads for Fiscal Boost
- IoD survey finds ‘fragile’ confidence in wake of Brexit vote
- Bank of England is expected to cut interest rates on Thursday
The Bank of England in London.
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Business leaders urged U.K. Chancellor of the Exchequer Philip Hammond to deliver a “bumper” fiscal stimulus, saying the Bank of England can do little to revive confidence on its own.
The Institute of Directors said its latest survey found increasing pessimism about the economy in the wake of the surprise decision in June to leave the European Union, with marginally more firms now expecting to cut investment than increase it over the next 12 months.