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

Cosmic rays does not cause birth defects

According to a new study, cosmic radiations that reach Earth are not strong enough to cause any birth defects.

The study shows that major solar events that send radiation toward Earth do not cause birth defects. The study found that the amount of damaging solar radiation reaching the planet is not enough to cause concern. The researchers...

Most Popular

Crew working to save whale stuck in lagoon on Great Barrier Reef

Wildlife experts and crew members are working to save...

SKA Pathfinder discovers galaxy five billion light years away

A high-tech radio telescope, SKA Pathfinder telescope in...

Leakage leads to Immediate Landing Of NASA’s Massive Balloon

NASA's massive heavy-lift balloon which took off from...

Chile's Calbuco Volcano Eruption Causes Massive Economic Damage

Chile's Calbuco volcano eruption has not only caused...

Poll

Can Greece Come out of Economic Problems: