Bank of England keeps Bank Rate at 0.5%

November 6, 2015

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy in order to meet the 2% inflation target and in a way that helps to sustain growth and employment.

At its meeting ending on 4 November 2015, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%,

Yesterday the Bank’s inflation report prompted economists to postpone when they expect UK rates to rise, the report said the outlook for global growth had weakened.

The Committee voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion, and so to reinvest the £6.3 billion of cash flows associated with the redemption of the December 2015 gilt held in the Asset Purchase Facility.

Interest rates have now remained at 0.5% for six and a half years.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Freehold and Leasehold Reform Act-lessees can control their own destiny

Matthew Pennycock, Minister of State for Housing and Planning, has made a Parliamentary Statement regarding the future progress of the Freehold and Leasehold Reform Act 2024. The Government have formally recognised the “significant complexity of the task” and that the legislation was rushed in at the end of the last parliament and as a result…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 22/11/24

The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More →
Estate Agent Talk

The Architecture Of Attention Behind Social Media Addiction

In the digital age, social media platforms have revolutionized how we connect, share, and consume information. Behind their sleek interfaces lies a sophisticated architecture of persuasive technology.  These platforms employ intricate design patterns and technical elements to capture and hold user attention. From subtle visual cues to complex algorithmic systems, every feature serves a calculated…
Read More →
Breaking News

2025 Predictions for the Private Rental Sector

Allison Thompson, National Lettings Managing Director, Leaders Romans Group (LRG) “As we approach 2025, the lettings industry is entering a phase marked by stabilisation and opportunity. Rental inflation has slowed to an average of 3-4% for new lets, reflecting the effects of affordability constraints; renters’ budgets are beginning to limit how much rents can rise.…
Read More →
Breaking News

Response to Matthew Pennycook’s Statement on Leasehold Reform

Yesterday, Secretary of State Matthew Pennycook made a Ministerial Statement on the future of leasehold reform. Responding, Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP said: ALEP welcomes the ministerial statement which puts in place a timeframe and some objectives for the implementation of the Leasehold & Freehold Reform Act.…
Read More →
Estate Agent Talk

Essential Garage Storage Solutions for Small Spaces

Maximize your garage space with practical storage ideas that keep your items organized and accessible. If you’re dealing with a smaller garage, smart solutions can make a big difference in keeping your space neat and usable. 1.  Wall-Mounted Storage Wall-mounted storage is an excellent way to save space and keep your garage organized, especially in…
Read More →