BOEThe Bank of England’s Monetary Policy Committee has again voted to keep base rate at 0.5 per cent, the 68th consecutive month it has been held at the historic low.

The Bank of England’s Monetary Policy Committee has again voted to keep base rate at 0.5 per cent, the 68th consecutive month it has been held at the historic low.

It has also decided not to extend its quantitative easing programme, designed to stimulate lending in the economy, beyond the £375bn already spent.

The Bank’s Monetary Policy Committee has held rates at 0.5% since March 2009 in a bid to help economic recovery.

Rates were expected to rise early next year, but economists think this will be pushed back due to recent poor news.

This week, surveys indicated a slowdown in the UK services sector and construction industry.

The Chancellor, George Osborne, has also warned that the UK will not escape the slowdown in the eurozone.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.