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

Breaking News

What renters and landlords need to know ahead of major rental law changes

With just one month to go until the first phase of the Renters’ Rights Act comes into force, the leading professional body, Propertymark, is urging renters and landlords across England to understand how the changes could affect them. From 1 May 2026, the legislation will introduce some of the biggest changes to the private rented…
Read More →
Estate Agent Talk

Tackling Empty Properties

A UK Perspective on Best Practice and Recommendations for Reform Propertymark, the UK’s leading professional body for property agents, has today published a comprehensive new position paper highlighting the urgent need for coordinated, practical and properly resourced action to bring long-term empty properties back into use. With over 359,000 homes sitting empty for more than…
Read More →
Breaking News

Pet-friendly rentals plunge 39%

New research from Inventory Base reveals that the number of pet-friendly rental homes in England has fallen by -39% since the start of 2026, as landlords appear to be reducing the number of homes openly marketed as allowing pets ahead of the Renters’ Rights Act taking effect from 1st May. The Renters’ Rights Act (RRA)…
Read More →
Breaking News

Latest Nationwide house price data showing a 2.2% increase

Industry reaction to Nationwide house price data showing UK annual house price growth picked up to 2.2% in March, from 1.0% in February. Nathan Emerson, CEO of Propertymark, comments: “An uplift in house prices will be welcomed by the market and suggests that buyer demand remains resilient despite ongoing economic headwinds. Improved sentiment, coupled with…
Read More →
Breaking News

UK house price growth picks up in March

UK annual house price growth picked up to 2.2% in March, from 1.0% in February Northern Ireland best performing area in Q1 2026, with prices up 9.5% year-on-year Outer South East weakest performing region, with prices down 0.7% compared with Q1 2025 Headlines Mar-26 Feb-26 Monthly Index* 552.6 547.7 Monthly Change* 0.9% 0.3% Annual Change…
Read More →
Breaking News

Mortgage approvals up in February

The latest mortgage approval data from the Bank of England show that: –   Mortgage approvals on house purchases for February sat at 62,584 up (3.9%) from 60,246 seen in January. Approvals are down (-3.9%) when compared to the 65,114 seen in February 2025. This annual decline was expected due to wider market slowdown and economic…
Read More →