As a result, an increase in the rate of production had been expected.
What he does see is a window in interest rates.
An increase in interest rates is, of course, not all bad news.
It was the third increase in the 91-day rate this month.
That would be the first increase in interest rates since 1990.
Under the plan, 56 percent of the cost would have been included in the 1989 rates.
It would be the first increase in the rates since 1985.
The increase in the adult rate is £1 going up to £14.
A 1% rise in interest rates would cost the economy £10bn, he says.
He gave industry the cut in interest rates it wanted - sort of.
