No surprises as base rate frozen at historic low - Economy - News - Moneyfacts


No surprises as base rate frozen at historic low

No surprises as base rate frozen at historic low

Category: Economy

Updated: 07/01/2010
First Published: 07/01/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
The Bank of England's Monetary Policy Committee (MPC) delivered no surprises today, announcing that the base rate of interest will remain frozen at 0.5 per cent.

The decision was widely predicted and means the measure remained unchanged since the MPC reduced the rate from one per cent to 0.5 per cent in March last year.

The Committee also voted to continue with its £200 billion programme of quantitative easing, which is expected to take another month to complete. The scale of the programme will be kept under review.

Minutes of the meeting will be published on Wednesday 20 January.

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