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Interest rates remain at 0.5%

The Bank of England (BoE) decided yesterday to keep interest rates unchanged, the BoE unanimously agreed to maintain rates at 0.5% and leave the asset purchase programme at £375bn, this was what analysts were expecting.

The decision to keep rates as they are  comes amid concerns about weak wage growth, low inflation and a global economic slowdown,  uncertainty surrounding the  referendum set for 23rd June on Britain’s European Union membership was also taken into account.

The BoE’s Monetary Policy Committee reportedly said in the minutes of the March meeting. “There appears to be increased uncertainty surrounding the forthcoming referendum on UK membership of the European Union.

“That uncertainty is likely to have been a significant driver of the decline in sterling. It may also delay some spending decisions and depress growth of aggregate demand in the near term.”

Allen Walkey

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.

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