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10/11/03

Intellect Responds to Bank of England's Decision to Raise Interest Rates

Responding to the Bank of England's decision to raise interest rates, John Higgins, Director General of Intellect said:

"Intellect welcomes any move by the Bank of England to ensure the long-term economic stability of the UK, and feels confident that the primary interest rate rise of 0.25% will not negatively impact the ICT industry.

However, Intellect feels that precautions do need to be taken in order to ensure that the slow economic growth, which is predicted to return through 2004, is not hampered by any further, rapid, increases in interest rates."

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