MPC and ECB keep rates on hold

Professional Adviser
clock

The Bank of England's Monetary Policy Committee kept UK base rates on hold at 5% at today's midday policy setting meeting, following last month's cut.

A break from rate-cutting had been widely expected as inflationary pressures have not yet abated, despite widespread gloom about the UK and US economies. The housing lobby had argued for a cut, with the Royal Institution of Chartered Surveyors expressing disappointment at the MPC’s inaction. However, the move was cautiously welcomed in other quarters. “The positive message to emerge from the no-change decision is that the MPC does not judge the UK economy to be in a parlous condition that requires the first back-to-back reduction in interest rates since 2003,” said Edward Menashy, chief ec...

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 uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •