0.5% Interest rates remain!

Bank of England

Bank Rate remains at 0.5% and last months Injection forecast to take 3 months to complete

The Bank of England announced today its decision by the Monetary Policy Committe, to maintain the official Bank Interest rate at 0.5%.

The Bank dropped the rate to this low level back in March 2009 amid the start of the current economic downturn and although under pressure to raise rates due to some strong infaltion figures, it has until now kept that static.

Last month it did decide however to increase the Asset Purchase Facility (also known as quantative easing) to £275 billion and the committee decided to maintain that level.

In fact the expectation is that the programme will take another three months to complete and is financed by the issuance of central bank reserves.

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