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Bank hold interest rates at 0.5% for another month


05/04/2012

By Daniel Hunter

The Bank of England have, unsurprisingly, maintained UK interest rates at 0.5%, as well as opting against any further quantitive easing (QE).

The record low interest rate has now been the same since March 2009, and despite the economy recovering somewhat, looks set to stay there for the foreseeable future.

“There was little uncertainty around this month’s MPC decision, as the latest extension of QE runs until May. The focus therefore remains on whether further asset purchases will be announced next month," Ian McCafferty, CBI Chief Economic Adviser, said.

“It’s a difficult judgement call, but on balance we’re not expecting a further extension next month. Recent economic data has been more encouraging, and with oil prices high, there’s now less certainty around how far and how fast inflation will fall.”

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