Bank of England base rate held once again

by Aaron Strutt

Oct 08 2014

The Bank of England’s Monetary Policy Committee (MPC) has voted to keep base rate on hold at 0.5% for the 67th consecutive month. Quantitative easing has also remained at £375bn.

In two weeks, the Bank will confirm how the MPC members voted, although last month two members voted to raise rates.

BNP Paribas' Dominic Bryant told City AM newspaper: "Nothing was expected from the Bank of England today and it duly delivered. However, that does not mean there is nothing to say on the outlook for policy. The market has continued to push back the point at which the first rate-hike is priced in. It now sees the move coming in early-to-mid Q3 2015.”