BoE hold firm at +0.5%

The Bank of England has voted to keep interest rates on hold at 0.5% amid concerns over the strength of the economic recovery.

The decision by the bank’s Monetary Policy Committee (MPC) means rates will stay at their current record low for an 18th month.

The Bank’s programme of quantitative easing also remains on hold.

Inflation is still well above the bank’s target rate of 2% on the Consumer Prices Index (CPI) measure.

Last month CPI was at 3.2%, though it has been falling in recent months, and the Bank expects inflation to fall to close to the 2% target this year.

BBC News

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell