Bank of England must not raise interest rates to avoid recession

16 Mar 2022
Press Office

Press Office

Member requiring help?
Printable PDF

GMB Union is calling on the Bank of England not to increase interest rates today – and avoid thrusting the country into recession. 

Gary Smith, GMB General Secretary, said: 

“We’ve all heard the Bank of England boss thinks low paid workers shouldn't ask for a pay rise to help control inflation. 

“If Andrew Bailey can tell the hardworking people who carried this country through the pandemic they don’t deserve a pay rise, surely he can encourage the bank to keep interest rates as they are to avoid plunging the UK into recession. 

“The people of this country are stuck between a rock and hard place, a crushing cost of living crisis, energy prices rocketing and a national insurance rise.  

“The Bank of England can today do something tangible to help them.” 

Join us and become a GMB member today.
Join today!