Bank holds rate at 0.5%, maintains QE at £375bn

clock

The Bank of England's Monetary Policy Committee (MPC) has voted to hold the interest rate at 0.5%.

Following its monthly meeting, the MPC also decided to maintain its quantitative easing (QE) asset purchase programme at £375bn. The last movement from the MPC came in July, when it boosted the QE programme by £50bn. It has held the record low base rate since March 2009, and both decisions were in line with economists' predictions. The Bank is expected to assess the impact of its most recent QE boost and the £80bn 'funding for lending' scheme before going ahead with any further changes. It said: "The committee expects the announced programme of asset purchases to take another tw...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read
Elections and advice: Planning in political and legislative uncertainty

Elections and advice: Planning in political and legislative uncertainty

‘It should not be based on speculation, always plan on current legislation’

Isabel Baxter
clock 08 May 2024 • 3 min read
'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read