Saturday, July 9, 2011

MPC holding interest rates at 0.5 %

MPC holds interest rates at 0.5%

Category: Economy
Date: 07/07/2011

The Bank of England setting Committee confirmed that to leave interest rates on hold at 0.5%.

That is, no change in the action since March 2009 it has, at the monetary policy Committee (MPC) cut rates by 1.0% to 0.5%.

The MPC voted not to to inject more money into the economy program through its quantitative easing (QE).

Released minutes later in the month will show, whether it gave way to a division among the members of the Committee opinion.

In the previous months Martin Weale and Spencer Dale have voted to increase the measure to 0.75%, and it is likely that the minutes once again hold a 7-2-split prices will show unchanged.

Andrew sentance recently ended its nine-month stay in the Committee, that consistently voted that increase during his time as a member to 1.0%.

The announcement comes after the savings save group our savers, MPC, to help savers, which impact of low interest rates and relatively high inflation fighting to increase wrote.

The group claimed that £ 50 billion from the value of savings pots that has eroded in the last year alone.

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