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.


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