ONE of Scotland's leading jewellers is confident that last week's

surprise interest rate cut will benefit High Street retailers in the

run-up to Christmas, particularly at the quality end of the market.

Michael Laing, managing director of Laing the Jeweller, said his

company's specialist market had generally fared better north of the

Border and that the rate cut would help people make spending decisions

they had perhaps postponed until now.

''Therefore expectations for the annual sales and for Christmas are

good,'' he said yesterday.