The Bank of England’s decision to spare businesses a further rise in interest rates proved to be a crumb of comfort for manufacturers this week.

The Bank of England's Monetary Policy Committee has issued a statement explaining its reasons for cutting the base rate from 5.75% to 5.5%.

The Bank of England's Monetary Policy Committee has issued a statement explaining its reasons for cutting the base rate from 5.75% to 5.5%.

Manufacturers are set for a boost with the Bank of England expected to cut interest rates for the first time in a year.