Bank of England keeps rates at 0.5%

The Monetary Policy Committee (MPC) of the Bank of England has elected to leave the interest rate of the United Kingdom unchanged at 0.5%, the lowest in the Bank of England’s 300 year history.
The MPC has also decided to leave the scale of the quantitative easing (QE) asset purchase programme at its present level of £325bn.

The QE programme had been increased by £50bn in February of this year.

The decision by the Bank of England, which was widely expected, follows a similar choice by the European Central Bank (ECB) which this week left the eurozone’s interest rate at 1%, the lowest in the single currency’s history.

The asset purchase scheme is expected to run its course next month, although the last time this was due to happen (in February) the MPC increased its size.


Source:
bankingtimes.co.uk