The Bank of England’s monetary policy committee has once again voted to maintain the base rate at 0.5 per cent – the 62nd consecutive month of record-low rates.
The last change to base rate was a 0.5 per cent reduction to its current level on 5 March 2009.
MPC votes to hold base rate and QE
The Bank of England’s Monetary Policy Committee has once again voted to keep base rate at 0.5 per cent and its programme of quantitative easing at £375bn.
The decision was widely expected as BoE governor Mark Carney has said base rate will not rise until unemployment falls below 7 per cent or there is an unexpected spike in inflation. But even then a rate rise is not guaranteed.
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