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Would increasing the interest rate inspire use of facilities management?

June 1st 15:11 Cost Management 

Businesses operating in the UK could be inspired to use facilities management cost reduction processes in a bid to boost profit margins if the Bank of England increases the interest rate.

One industry expert has claimed that recent recommendations to increase the rate to 3.5 per cent would be "catastrophic" for the environment.

It follows the publication of a report by the Organisation for Economic Cooperation and Development (OECD), which urged the Bank to increase the rate of interest, which is currently being held at an all time low of 0.5 per cent.

Michael Baxter, editor of online magazine Investment and Business News, said: "I thought the OECD report was a bit funny; it was almost contradictory.

"Apparently we had a crisis earlier this month, which could have been as serious as the Lehman Brothers going bust. This goes to prove the economy globally is still very vulnerable. Yet the OECD is recommending the rate of interest goes up over the next 18 months."
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