The Monetary Policy Committee has voted to keep its key interest rate at 4% for the 13th month in a ...
The Monetary Policy Committee has voted to keep its key interest rate at 4% for the 13th month in a row, despite a cut by Sweden's central bank earlier this morning and heavy expectations that the European Central Bank will cut rates for the 12 eurozone countries later today.
Analysts are tipping the ECB to cut its key rate by as much as 0.5% to 2.75% after further evidence of weakening in Europe's biggest economies Germany and France.
Sweden, which along with the UK has remained outside the euozone, saw its central bank cut rates for the second time in three weeks earlier this morning, taking its repo rate down 0.25% to 3.75%.
Shares in the UK have been up this morning partly due to expectations that rate cuts across Europe, the UK's biggest export market, will boost company earnings next year.
Despite improved risk appetite
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Ceremony will take place 13 November