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Bank of England holds base rate again

Aaron Strutt Image

The Bank of England's Monetary Policy Committee has voted to maintain the base rate at 0.5% once again and keep quantitative easing at £375 billion.

David Kern, chief economist at The British Chambers of Commerce, told the BBC: "Businesses need clarity that encourages them to increase investment and at the moment the MPC is delivering this. However, its efforts are hampered by repeated calls for interest rate rises whenever a piece of positive news is published.

The previous change to the base rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009. Quantitative easing was also initiated on 5 March 2009.

May 9, 2014

As seen in
sunday times telegraph financial times bbc news the express the times
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