ASDA's response to the MPC's interest rate change:
“We welcome today’s interest rate cut, it should go someway towards restoring consumer confidence this side of Christmas.
“With disposable incomes continuing to fall it is essential that banks and building societies pass on this saving to their customers. Everyone has to play their part and financial institutions are not exempt.”
“We are helping drivers make ends meet by cutting the cost of petrol, we are also lowering prices in our stores now that food inflation has peaked.”