Bank keeps Rates at 0.5% and maintains Quantitative Easing

The Bank of England announced this week that it is maintain the Bank Rate at the historic low of 0.5%, having first been introduced way back in March 2009.

There have been few people expecting the bank to increase rates this month with the record low lasting far longer than experts originally predicated.

The Bank also announced it had voted to continue with the same level of Asset Purchase programme at £325 billion. The programme is financed by the issuance of central bank reserves and the Bank believes this will take another month to complete.

Although there was no increase is this programme, also known as quantitative easing (QE), the scale of the programme as a whole will be kept constantly under review.

Alec Hanson

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