The Institute of Directors (IoD) said it was not surprised by today's decision by the Bank of England's Monetary Policy Committee’s to leave interest rates unchanged.
Ruth Lea, Head of the Policy Unit at the IoD, said: "We are entirely in agreement with the Monetary Policy Committee in their decision to leave rates unchanged this month. There are some tentative signs of recovery in the economy, and the predilection for the British consumer to accumulate debt should be a worry for policy makers.
“Having said that, we do not expect a robust recovery in the second half of this year. Moreover, the economy is badly out of balance - with growth in the domestic economy, but a stubbornly large trade deficit.
