Interest Rates Stay at 0.5% plus GBP50bn Quantitative Easing
Published / Last Updated on 06/05/2009
Interest Rates Stay at 0.5% plus £50bn Quantitative EasingThen Bank of England Monetary Policy Committee has met today and confirmed that interest rates will remain at 0.5% for the second consecutive month.
In addition, quantitative easing funds have been boosted by a further £50bn to £125bn. In simple terms, the Bank of England is buying back more of its debt i.e. gilts to release cash flow capital back into beleagured banks and building societies to give them much needed funds to lend as mortgages.
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