Base Rate Held for 6th Month

The Monetary Policy Committee has held the base rate at 0.5 per cent and has decided to continue with the £175bn quantitative easing programme.

The MPC has decided to keep base rate at its all-time low of 0.5 per cent for the sixth month in a row, and has made no changes to its quantitative easing package, which was increased to £175bn last month.

Low interest rates mean life is easier for those in debt and business can in theory more readily borrow to invest and grow. However high clearing bank fees coupled with a general reluctance to lend continue to put a dampener on economic activity and thus the much needed recovery..

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