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04/03/2010
Interest Rates Held Again
The Bank of England today held interest rates at 0.5%, as widely predicted.
Monetary Policy Committee members also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion.
The previous change in bank rate was a reduction of 0.5 points to 0.5% on 5 March 2009.
A programme of asset purchases financed by the issuance of central bank reserves was initiated on the same day.
The most recent change in the size of that programme was an increase of £25 billion to a total of £200 billion on 5 November 2009.
"The bank will continue to purchase high-quality private sector assets on behalf of the Treasury and financed by the issue of Treasury bills, in line with the arrangements announced on 29 January 2009," a Bank of England statement read.
Lee Hopley, chief economist at the EEF engineering employers' group, said an unchanged position is the right decision given the "ongoing uncertainty about the strength of the recovery".
He said any moves could be held for "some months to come".
(PR/BMcC)
Monetary Policy Committee members also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion.
The previous change in bank rate was a reduction of 0.5 points to 0.5% on 5 March 2009.
A programme of asset purchases financed by the issuance of central bank reserves was initiated on the same day.
The most recent change in the size of that programme was an increase of £25 billion to a total of £200 billion on 5 November 2009.
"The bank will continue to purchase high-quality private sector assets on behalf of the Treasury and financed by the issue of Treasury bills, in line with the arrangements announced on 29 January 2009," a Bank of England statement read.
Lee Hopley, chief economist at the EEF engineering employers' group, said an unchanged position is the right decision given the "ongoing uncertainty about the strength of the recovery".
He said any moves could be held for "some months to come".
(PR/BMcC)
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New BoE And Financial Services Bill Published
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
