Bank of England holds rates at 0.5%

The Bank of England’s monetary policy committee agreed to keep interest rates at a record low of 0.5 per cent on Thursday and to proceed with the current £50bn planned purchases of gilts over the next three months, as outlined in August.

The effectiveness of the Bank’s quantitative easing programme, under which it is purchasing most gilts from the market using newly created central bank reserves, has been criticised as ineffective because it appears to have done little to stimulate lending to households and businesses.

Financial Times

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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