Bank of England holds interest rates

Bank of England holds interest rates

The Bank of England’s monetary policy committee (MPC) has voted unanimously to hold interest rates at their current level of 0.75 per cent, after weighing up “mixed” economic data.

The Bank cited weakening global economic conditions and “shifting expectations” about Britain’s withdrawal from the European Union.

It signalled it had future rates rises pencilled in, should the economy continue on its better-than-expected economic path.

The MPC also voted unanimously to continue with the current path of quantitative easing (QE), the bank’s bond-buying stimulus programme. It will maintain its stock of investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10bn.

It will also maintain the stock of UK government bond purchases, financed by the same means, at £435bn.

Source : Media

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