Today’s decision is not surprising, but MPC has missed an important opportunity. Commenting on today’s MPC decision, David Kern, Economic Adviser to the British Chambers of Commerce, said: "This decision is not surprising, but we believe it is mistaken given the worsening international and domestic situation. The MPC has missed an important opportunity to underpin business and consumer confidence, and limit the potential damage to the economy. “We do not disregard the inflationary risks arising from surging food and energy prices but countering the immediate acute threats to growth must be given a greater priority. To minimise the threats to the economy, it is critically important to take urgent action to alleviate the threats to the banking system and help restore the smooth flow of credit in the economy. “We strongly urge the MPC to cut interest rates in April. Waiting until May would be much too dangerous.”