Base rates on hold

Published 10th Sep 2009

Today, the Bank of England once again held base rates at 0.50 per cent, for a sixth consecutive month.

The Bank is expected to keep interest rates at this level into 2010 whilst continuing its quantitative easing programme.

The extension of the QE programme by a further £50 billion last month reflects concerns about growth prospects, reaffirmed by the worse-than-expected second quarter GDP result which shows real GDP contracting by 0.7 per cent over the quarter.

Source: ' TMC '

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