Menu
09/09/2010
UK Interest Rates Remain On Hold At 0.5%
The Bank of England Monetary Policy Committee (MPC) has kept interest rates on hold at 0.5% for the 18th month in a row.
The decision had been expected, although there have been calls for a rise in order to curb inflation.
The MPC also continued with the Bank's £200 billion quantitative easing programme.
The UK economy grew by 1.2% in the second quarter of this year, but there have been indications that growth has since slowed.
Meanwhile, CPI inflation was 3.1% in July, above the 2% target rate.
The MPC has not changed the interest rate since March 2009 - the longest period since the Bank of England was given responsibility of setting monetary policy in 1997.
(KMcA/GK)
The decision had been expected, although there have been calls for a rise in order to curb inflation.
The MPC also continued with the Bank's £200 billion quantitative easing programme.
The UK economy grew by 1.2% in the second quarter of this year, but there have been indications that growth has since slowed.
Meanwhile, CPI inflation was 3.1% in July, above the 2% target rate.
The MPC has not changed the interest rate since March 2009 - the longest period since the Bank of England was given responsibility of setting monetary policy in 1997.
(KMcA/GK)
Related UK National News Stories
Click here for the latest headlines.
05 June 2008
Interest Rates Remain At 5%
Interest rates are to remain the same in the UK at 5% following a meeting of the Monetary Policy Committee (MPC). The Bank of England committee sets an interest rate it judges will enable the inflation target to be met. The decision not to change the interest rate has been expected.
Interest Rates Remain At 5%
Interest rates are to remain the same in the UK at 5% following a meeting of the Monetary Policy Committee (MPC). The Bank of England committee sets an interest rate it judges will enable the inflation target to be met. The decision not to change the interest rate has been expected.
08 February 2007
No change for UK interest rates
The Bank of England has voted to leave the interest rate unchanged at 5.25% this month. The news will come as a relief to homeowners, following last month's surprise 0.25% increase. The Bank's Monetary Police Committee increased the rate in January in an attempt to curb inflation, which hit 3% in December.
No change for UK interest rates
The Bank of England has voted to leave the interest rate unchanged at 5.25% this month. The news will come as a relief to homeowners, following last month's surprise 0.25% increase. The Bank's Monetary Police Committee increased the rate in January in an attempt to curb inflation, which hit 3% in December.
10 July 2003
Interest rates cut by 0.25%
The Bank of England's Monetary Policy Committee (MPC) has today voted to reduce interest rates by 0.25% - to 3.5%. The MPC says that the "global economic recovery has remained hesitant", but that preconditions for recovery "remain in place".
Interest rates cut by 0.25%
The Bank of England's Monetary Policy Committee (MPC) has today voted to reduce interest rates by 0.25% - to 3.5%. The MPC says that the "global economic recovery has remained hesitant", but that preconditions for recovery "remain in place".
17 June 2008
Consumer Inflation Has 'Risen Sharply', Says Bank Of England
The Governor of the Bank of England has written a letter of explanation to the Chancellor over the rising inflation figure. The inflation rate has soared to more than 3.3% - well above the Government's target of 2% - in figures released today.
Consumer Inflation Has 'Risen Sharply', Says Bank Of England
The Governor of the Bank of England has written a letter of explanation to the Chancellor over the rising inflation figure. The inflation rate has soared to more than 3.3% - well above the Government's target of 2% - in figures released today.
10 November 2005
Interest rates remain unchanged
The Bank of England has left interest rates unchanged at 4.5% for the third month in a row. The decision, made by the Bank’s Monetary Policy Committee (MPC), had been expected, due to the recent rise in inflation. Inflation is forecast to remain above the 2% target for a while, mainly due to rising oil prices.
Interest rates remain unchanged
The Bank of England has left interest rates unchanged at 4.5% for the third month in a row. The decision, made by the Bank’s Monetary Policy Committee (MPC), had been expected, due to the recent rise in inflation. Inflation is forecast to remain above the 2% target for a while, mainly due to rising oil prices.
-
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.
