No change to interest rates

Document papers focused on interest rates official in boldThe Bank of England has decided to leave interest rates unchanged at 0.25%. The Monetary Policy Committee (MPC), which decides where to set interest rates, opted for a cut in August, taking rates to their lowest ever levels. It is therefore no surprise that rates have been left unchanged in September. The cut in August came in response to fears that the economy would slow considerably following the Brexit vote. Since then, new evidence has emerged that any slowdown will not be as marked ...

A new era, but no change in interest rates, as savers are left disappointed

No surprises as interest rates and QE remain on hold_istockphotoToday might have marked the start of a new era, as Mark Carney chaired his first meeting of the Monetary Policy Committee (MPC), but the result was all too familiar. The MPC has decided to leave base rate unchanged at 0.5% for another month and also voted for no additional Quantitative Easing (QE) measures. The Bank of England has not changed base rate now since March 2009....

Savings: Disappointment for savers as interest rates “nowhere near” return to “normal”

Piggy bank with bandage isolated on pink backgroundThe UK’s beleaguered savers, will have been left disappointed by the last public appearance of the outgoing Governor of the Bank of England. Speaking to the Treasury Committee, Sir Mervyn King said that interest rates were “nowhere near” returning to “normal”. He went on to say that an increase to interest rates and the unwinding of the Quantitative Easing program would only start have a significant improvement to the economy. Over the past few ...

Interest rates on hold for another month

London_istockIn a move which will surprise no one, the Bank of England has announced interest rates will remain on hold for another month. The Bank’s Monetary Policy Committee (MPC) met this week and voted to leave base rate at 0.5% and not to extend the existing £375 billion program of Quantitative Easing (QE). Most economic experts believe the committee is in a ‘holding pattern’, until Mark Carney takes over as governor from Mervyn King in the summer. The committee were possibly also influenced by economic ...