Bank of England votes 9-0 to hold rates and stimulus plan

[mserve id=”Central_Bank_BOE.jpeg” align=”left” width=”400″ caption=”Bank of England” alt=”Central Bank of England BOE” title=”Bank of England”]

The Bank of England’s monetary policy committee (MPC) voted unanimously to hold interest rates at 0.5 per cent and keep a lid on its quantitative easing plan, minutes from the January meeting showed today.

All nine members of the committee, which sets the interest rate each month, decided to not to raise the £200 billion programme of quantitative easing, which is aimed at pumping cash into the financial system for a further month.

The MPC said that the signals were mixed but that the economy appeared to be showing signs of weak growth on the back of the stimulus package and the weakened sterling. Policymakers remained of the belief that inflation would again drop below its 2 per cent target after a short term spike.

source: Times Online

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza