BoE holds the interest rate at 0.5%

Despite speculation that the Bank of England may reduce the interest rate, the Monetary Policy Committee (MPC) voted 8-1 for the rate to remain at 0.5%.

Bank of EnglandFinancial markets had priced in an 80% chance of a rate reduction. The Sterling rose against the Dollar after this news.

The rate has remained at 0.5% since March 2009 and this is the longest period it has remained unchanged.

 

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About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

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