The Bank of England confirmed on Thursday 4th August that the base rate will remain on hold at 0.50%. The Monetary Policy Committee (MPC) also voted not to inject any more money into the economy through its quantitative easing (QE) program. Minutes released later in the month will show whether there was a split in opinion amongst the members of the committee. Two MPC members voted to increase rates last month. There was also one vote to increase the QE program.

Inhouse opinion is that rates will stay low, possibly unchanged at 0.50% until March 2012

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