BoE Leaves Base Rate At 0.5%

04/08/2011

The Bank of England bank rate has been held at 0.5% for the 29th month in a row and quantitative easing has been kept at £200 billion.

The last rate change was on March 5, 2009, when it was reduced from 1% to 0.5%.

On the same day, the Bank initiated a £75 billion quantitative easing programme. The most recent change to the size of the programme, on November 5 2009, was an increase of £25 billion, bringing the total to £200 billion.

The BoE’s Monetary Policy Committee is currently split 7-2 in favour of keeping rates at 0.5%, according to last month’s minutes.

 

Written by Claire Allison | Mortgage Consultant

Claire joined Mantle Financial Planning in 2001 having worked in the travel industry for several years. Read more >>

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