Base rate remains at 0.50% - Economy - News |

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Base rate remains at 0.50%

Base rate remains at 0.50%

Category: Economy

Updated: 06/06/2013
First Published: 06/06/2013

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 It is now over 6 months old so the content may be out of date.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) has voted to keep base rate at its historic low of 0.50% for the 51st consecutive month.

The MPC also agreed to keep the Government's quantitative easing (QE) programme total amount at £375 billion.

Minutes released by the MPC last month showed three members of the committee voted in favour of injecting a further £25 billion into the UK economy via QE, but were met with opposition and outnumbered by the remaining six members.

Base rate has stayed at 0.50% since March 2009, when the first phase of QE was introduced by the Government to boost the economy.

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