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Interest rates held again at 0.5%
The Bank of England has kept the country's cost of borrowing at 0.5% for the third month in succession.
Since October last year the Bank has cut the rate six times, bringing it down from 5% to the current record low. No new measures have been announced to stimulate the economy, but the Bank is continuing with its quantitative easing scheme.
The £125bn quantitative easing scheme is due to completed in July and the Bank have yet to decide if this will be extended by another £25bn to £150bn.
Under the quantitative easing programme, the Bank of England prints money and uses it to buy government and corporate bonds to increase the amount of money in circulation and stimulate economic activity.
Post Date: June 4th, 2009
Since October last year the Bank has cut the rate six times, bringing it down from 5% to the current record low. No new measures have been announced to stimulate the economy, but the Bank is continuing with its quantitative easing scheme.
The £125bn quantitative easing scheme is due to completed in July and the Bank have yet to decide if this will be extended by another £25bn to £150bn.
Under the quantitative easing programme, the Bank of England prints money and uses it to buy government and corporate bonds to increase the amount of money in circulation and stimulate economic activity.
Post Date: June 4th, 2009
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