UK Executives Urge BOE to Cut Rates After Confidence Sinks Lower
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British company executives urged the Bank of England to slash interest rates soon to prop up the flagging economy after “depressed” confidence sank to a four-month low.
Mounting recession fears helped drive the Institute of Directors’ Economic Confidence Index down to minus 28 in December from minus 21 the previous month, hitting the lowest level since August and close to 2023’s low. The survey measures directors’ optimism about the UK economy for the next 12 months.