Bank rate held at 0.25%

August 4, 2017
bank of england interest rate

The Bank of England announced yesterday 3rd August 2017 that the monetary committee has voted 6-2 to keep bank rate at 0.25%.

The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion.

The Committee voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435 billion.

Mark Carney the Governor of the Bank of England warned that the prospects for the UK economy are bleak  and that uncertainty over Brexit is already weighing on the economy.

The Bank has now lowered its growth forecast for this year and next,  this year down to 1.7% from its previous forecast of 1.9% made in May, for 2018 from 1.7% to 1.6%.

The pound sterling reacted by dropping to a 9 month low against the Euro.

 

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

Adding second coat of varnish floor boards
Home and Living

Cottagecore Design

The term “cottagecore design” has risen by 100% since November 2025, with the term “cottagecore” itself now getting nearly 10,000 searches (9,900), according to Traditional Beams. Cottagecore refers to an aesthetic that romanticises simple, rural and sustainable living, popularised on platforms such as Instagram and Tiktok, and embraces a cosy and pastoral lifestyle. However, while…
Read More →
Estate Agent Talk

Property specialist predicts spike in traditional interiors after Bridgerton hit

With Bridgerton Season 4 debuting with an impressive 39.7 million views in its first week on Netflix, property specialist predicts that traditional interiors will be the biggest renovation trend of 2026. Mitchell Martyn, Property Finance Specialist at Pure Property Finance, predicts that the appetite for traditional, heritage-inspired interiors is set to surge once again. As…
Read More →
Breaking News

Reduced supply of homes to landlords selling up

2025 saw Westminster enact one of the biggest changes to England’s private rental sector in decades via the Renters’ Rights Act, and it has already triggered a mixed response from those working in the property industry alongside landlords. One of the biggest changes includes the retirement of section 21 ‘no-fault’ evictions. This is a move…
Read More →
Estate Agents should not all look the same
Letting Agent Talk

The Art of the Add-On: 5 Simple Ways Letting Agents Can Upsell in 2026

Letting agents are brilliant at delivering value, but not always brilliant at charging for it, according to Sally Lawson… Here are her five simple steps for charging for what you’re worth (and more) this year. “Far too many agents bundle services together, do the extra work, solve problems, take calls, fix issues. And they never…
Read More →
Rightmove logo
Breaking News

Rightmove reaction to the Bank of England Base Rate decision

Matt Smith, Mortgage Expert at Rightmove, said: “Today’s decision to hold the Bank Rate was widely expected, and for most homeowners and home‑buyers, there’s no immediate change to worry about. For those looking to secure a new mortgage rate or coming up to remortgage, even small rises in rates can have a real impact on…
Read More →
bank of england interest rate
Breaking News

Bank of England holds interest rates at 3.75%

The Bank of England has announced its decision to hold the base rate at 3.75%. This decision comes as a result of wider economic uncertainty and an emerging energy crisis due to the Iran conflict, as well as inflation (CPI) sitting at 3.0% and remaining above the Bank’s 2.0% target. Today’s decision reflects continued caution…
Read More →