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21/01/2002
Think-tank calls for action on issue of ‘strong pound’
The Bank of England has been advised to rethink its approach to monetary policy by an economic think-tank which has called for greater focus on achieving a weaker pound.
The Ernst & Young Item Club issued the warning in the face of continued recession in the manufacturing sector, as UK exports suffer from the uncompetitive strength of the pound.
While the Bank of England has attempted to help the sector in the domestic market by cutting interest rates, the ensuing levels of consumer spending have caused levels of debt to rise alarmingly, prompting speculation of a foreseeable rise in interest rates some time in the next six months.
A spokesperson from the Item Club stressed that this strategy would bring no lasting solution to the woes of the manufacturing sector, instead advising that demand could be “better achieved through a lower exchange rate” – simultaneously preparing the country for possible entry into the Eurozone and the adoption of the single currency. (CL)
The Ernst & Young Item Club issued the warning in the face of continued recession in the manufacturing sector, as UK exports suffer from the uncompetitive strength of the pound.
While the Bank of England has attempted to help the sector in the domestic market by cutting interest rates, the ensuing levels of consumer spending have caused levels of debt to rise alarmingly, prompting speculation of a foreseeable rise in interest rates some time in the next six months.
A spokesperson from the Item Club stressed that this strategy would bring no lasting solution to the woes of the manufacturing sector, instead advising that demand could be “better achieved through a lower exchange rate” – simultaneously preparing the country for possible entry into the Eurozone and the adoption of the single currency. (CL)
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22 January 2002
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09 October 2012
JF McKenna Move Towards Achieving Zero Waste To Landfill
Armagh-based JF McKenna is moving towards achieving zero waste to landfill with the help of Invest Northern Ireland. JF McKenna supplies packaging to the mushroom, poultry and horticultural industries and over the last four years has focused its efforts on reducing the amount of waste it sends to landfill.
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15 April 2016
NICEI Report Finds Slight Increase In NI Economy
The economy in Northern Ireland grew by 0.9% in the last quarter of 2015, compared to the same period in 2014. The number was revealed in the latest NI Composite Economic Index (NICEI), which was published today by the Northern Ireland Statistics & Research Agency.
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15 April 2013
NI Firms More Optimistic On Job Creation Over The Next Year
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08 December 2010
Construction Recovery Stalled Until 2013
The recovery in construction output experienced by the industry during much of 2010 will stall in 2011 according to the latest forecasts from the Construction Products Association (CPA). Industry output is expected to decline by 2% in 2011 compared with 2010, with a further fall anticipated in 2012.
Construction Recovery Stalled Until 2013
The recovery in construction output experienced by the industry during much of 2010 will stall in 2011 according to the latest forecasts from the Construction Products Association (CPA). Industry output is expected to decline by 2% in 2011 compared with 2010, with a further fall anticipated in 2012.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
