Bank of England not to change Interest Rate

Bank of England not to change Interest Rate

It seems that pressure is building on the authorities concerned of the UK to find some measures to solve the ongoing economic problems. It has been said so as the Bank of England has announced that it will remain keeping its interest rate as low as 0.5%.

In addition, it has also been found that quantitative easing (QE) stock will also remain at £375 billion. The announcement came at the time when the Monetary Policy Committee said that no additions are expected in the government purchased bonds.

A hope of respite was seen at the time when the country was able to break its recession after months, when the economy rose by 1%.

Vicky Redwood, from Capital Economics, said, "We think that more policy stimulus will be required in the coming months - the question is whether the Committee feels it has the tools to deliver it".

All these factors have led to a lot of speculations in the market. Some market experts have said that the Monetary Policy Committee will surely favor an increase of £25bn. There are a number of reasons for claiming the same, said George Buckley from Deutsche Bank.

He shared the reason by saying that purchasing managers (PMIs) for now has not been moving at a desired pace in fields like manufacturing, service and construction sector.


FrenchTribune Specials

Couple’s Dream House built on Wrong lot

Six months after building a large custom house with an ocean view along the Atlantic Ocean near Palm Coast, Mark and Brenda Voss learned something wrong about their dream house - it was built on the wrong lot in the gated Ocean Hammock community.

Mark Voss said that they were surprised and didn't know how it happened. Mark and Brenda...

Most Popular

Three Scientists receive Nobel Prize in Chemistry

Eric Betzig, Stefan W Hell and William E Moerner...

Last month was Warmest on Record, says NASA

NASA says that last September was the warmest on record...

9to5Mac: Apple Pay service will make mobile payments very convenient

According to a recent report from 9to5Mac, Apple's...

Ninth Annual CROP Walk Organized to Raise Funds for Worldwide Hunger Relief

Ninth annual Communities Responding to Overcome Poverty...

Poll

Can Greece Come out of Economic Problems: