The Bank of Englands Monetary Policy Committee voted to maintain the official Bank Rate in August at the long term historical low of 0.5%.
This low was introduced back in March 2009 and there has been varied speculation at times that this would increase as the economy improved. Yet many commentators predict that this will remain lower for 2013 and perhaps beyond. The Bank may increase rates marginally but they are unlikely to rise massively while the UK economy continues with only minimal growth.
The Bank also decided to maintain the level of stock asset purchase that it is financing by the issuance of central bank reserves. This level is now £375 billion having been initiated in March 2009 and increased back in July 2013.
Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.
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