Bank of England Meets As IMF Urges Rate Cut
Published / Last Updated on 06/06/2012
Bank of England Meets As IMF Urges Rate Cut.
Bank of England (BoE) policymakers are meeting today to discuss whether to change interest rates or to inject more money through quantitative easing (QE).
The UK economy has been shown to be deeper in recession than was thought last month when the Monetary Policy Committee met. However, a recent poll of economists by Reuters showed just 25% of those asked thought it would vote for more QE.
Recently, Christine Lagard, the International Monetary Fund's managing director, called on the BoE to lower interest rates further to help the UK weather the eurozone debt crisis. UK interest rates have been at a record low of 0.5% for more than 3 years.