Interest Rates Frozen Again
Published / Last Updated on 06/04/2011
Interest Rates Frozen Again.
The official Bank Rate paid on commercial bank reserves is to remain at 0.5 per cent, following a vote by the Bank of England’s Monetary Policy Committee. The last change in Bank Rate was a reduction of 0.5 percentage points to 0.5 per cent in March 2009.
They also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The last increase was £25 billion in November 2009.
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