"The longer the Bank of England holds rates high, the harder it becomes for consumers to plan, borrow, and invest."
"Monetary policy should not substitute for sound market competition. Once inflation is clearly trending down, rate reductions should follow, allowing markets, not bureaucratic caution, to determine outcomes."
"Consumers benefit most when lenders and savers compete freely."
"Instead of more regulation or political pressure, especially ahead of the Budget, the focus should be on ensuring that financial markets remain open, transparent, and responsive to consumer demand."
Consumer Choice Center cautions that sustained high interest rates risk prolonging financial strain on households and small businesses and undermine affordability and consumer confidence. The organization acknowledges the need to control inflation but calls for rate reductions once inflation trends downward so markets, rather than bureaucratic caution, determine outcomes. Competitive financial markets and regulatory restraint are presented as the best means to balance borrower and saver interests and to pass benefits from higher rates to consumers. Prioritizing open, transparent, and responsive financial markets and allowing competition and innovation to flourish is emphasized as the path to empower consumers and support economic growth.
Read at London Business News | Londonlovesbusiness.com
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