Bank of England Holds Interest Rates at 0.5 Percent
Level has remained the same since March 2009
The Bank of England's Monetary Policy Committee (MPC) has again voted to keep interest rates on hold at 0.5%.
It has kept the key borrowing rate at that level since March 2009.
The MPC also said it would make no change to the £375bn of monetary stimulus it is providing through its quantitative easing (QE) programme.
Bank of England governor Mark Carney has said that before interest rates can rise, the unemployment rate needs to fall below 7%.
That stipulation is part of Mr Carney's policy of giving forward guidance.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?