Orkney businesses show “resilience”

A member of the Bank of England’s monetary policy committee is in Orkney this week speaking with business and banking representatives.

Professor David Miles is one of the nine members of the bank’s monetary policy committee which meets each month to decide on UK interest rates.

Committee members each make several visits to the countries and regions of the UK during the year to get a first hand impression of the local economy.

He said that conditions in Orkney appeared to be more resilient than elsewhere in the country.