Unsurprisingly the Bank of England decided to maintain the official Bank Rate in December at 0.5%. This continues the historical low of 0.5% since it was lowered to this level on 5th March 2009.
Record low of Interest Rates Maintained
With the uncertainty in the global economy and ongoing debates over how the Euro zone and European Union can be rescued, this was widely expected.
It also decided to maintain the Asset Purchase Programme, otherwise known as quantitative easing, at £275 billon. This however was modified more recently back in October where it was increased by £75 billion.
This programme is still expected to take another 2 months before it completes and is likely to be kept under close scrutiny and review.
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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