United Trust Bank’s most recent broker sentiment survey has revealed that 61pct of brokers operating in the fields of asset finance and property feel that it would take just one more 0.25pct increase in the base rate of interest to stifle SME investment. In the survey, carried out amongst 108 brokers, 37pct felt that a Base Rate of 1pct would have little to no effect on SME investment.
Noel Meredith, Executive Director – United Trust Bank, commented, “Although the MPC voted 9-0 in favour of the recent 0.25pct increase to the Base Rate, market sentiment had actually been in the ‘hold’ camp until quite recently.
“The fact that the decision of the committee was unanimous surprised many economists and Mark Carney has also signalled that he wouldn’t rule out another increase if necessary, to bring inflation back below 2pct.”
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