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Base rate held and no more QE

The Bank of England’s monetary policy committee has decided to keep base rate at 0.5 per cent for the 36th month running and decided to keep its programme of quantitative easing at £325bn.

Last month, the MPC voted to increase the size of QE by £50bn to £325bn.

The minutes for last month’s meeting reveal all nine MPC members voted to keep base rate at 0.5 per cent. The minutes for this month’s meeting will be published later this month.

Base rate was cut to 0.5 per cent in March 2009, on the same day the BoE initiated a programme of QE worth £75bn.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. All this QE just makes me Quesy!

  2. Cap'n Birdseye 8th March 2012 at 4:13 pm

    QE has been very damaging for retired people who have seen the cost of pension income rise as a result. So THAT’S what treating customers fairly means.

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