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Business Confidence Up, Despite Rate Rise
Business confidence has not fallen, despite the latest base rate rise in November, according to the latest Business Barometer from Lloyds TSB Corporate Markets.
The survey, which was conducted after the Monetary Policy Committee's decision to raise rates in November, found that 59 per cent of businesses are currently predicting a rise in their activity over the coming year, compared to the slightly lower proportion of 56 per cent the previous month.
In addition, 54 per cent of firms are now feeling optimistic about the economy, up from just 36 per cent in October.
" UK firms saw this latest interest rate rise coming, which could explain why it hasn't made a dent in their outlook," said Trevor Williams, chief economist at Lloyds TSB Corporate Markets.
"In fact, the opposite has happened, with businesses more optimistic about the general economy than they have been in the last six months."
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