Interest Rate unchanged at 0.5%, but extra £25bn for economy

Interest rates remain at 0.5% after the announcement today from the Bank of England, this being the eighth successive month since reaching the all time low in March.

The Bank has decided to pump an extra £25bn into the economy via their quantitative easing (QE) programme, having already spent £175bn on it so far. The Bank of England said it would spend this extra money over the next three months, which represents a slowdown in the rate of putting money into the economy – in the previous three months it had been £50bn.

In the Bank’s statement they go on to say that “A number of indicators of spending and confidence, however, suggest that a pickup in economic activity may soon be evident.”

View the full BBC Article or visit the Bank of England website.

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