Bank of England freeze on UK interest rates continues
The cost of borrowing has been at a record low since March 2009 and economists do not expect the central bank to raise rates in the near term.
The Bank’s Monetary Policy Committee (MPC) also maintained the quantitative easing (QE), or asset buying, programme at £200bn.
The UK is thought to have exited recession in the last quarter of 2009.
The MPC said it expected its QE programme to take another month to complete and that the scale of the programme would be kept under review.
Manufacturers said they supported the Bank’s decision. The recovery is now underway, but its strength remains in doubt.
Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.
January 8, 2010
Tags: Aussie loans rates, Bank of England, credit crunch, home loans-rates-UK, interest rates, Loan calculator, MPC, Quantitative Easing, uk recession Posted in: Uncategorized
Leave a Reply