Interest rates kept at 0.5 per cent

From The Publican

By Hamish Champ , 08-Oct-2009

Related topics: General News, Company & City News

The Bank of England had held interest rates at 0.5 per cent for the seventh month in a row.

 

Some analysts expect rates to remain at current levels until well into next year.

 

The decision to keep rates as they are was expected and came as the Bank said it would continue to pump up to £175bn into the UK economy to stimulate recovery through its programme of quantitative easing.

 

It is believed official figures to be released later this month will reveal that the country's economy has finally emerged from recession.

 

Noting the Bank's decision to peg rates, Dr Helen Hill, policy director at the London Chamber of Commerce and Industry, said: "With a double dip recession still a much greater threat than runaway inflation, the only sensible option was to keep rates on hold.

 

"The business community is not expecting the [Bank of England] to make any bold changes in rates in the coming months while the UK's economic recovery remains tentative."

Find us on Facebook

Spotlight

Legal Q&A: Opening a cinema club and assault charges

Legal Q&A: Opening a cinema club and assault charges

This week's legal Q&A asks what you should do regarding personal licences and being charged with assault,...

Five minute guide to Champagne, Prosecco and Cava

Five minute guide to Champagne, Prosecco and Cava

It may, in the past, have been associated with indulgence and special occasions, but all that is...

Legal Q&A: Nudity, noise and measuring down

Legal Q&A: Nudity, noise and measuring down

This week's legal Q&A features issues to do with 'regulated entertainment' and nudity, noise abatement notices and...

Drinks promotions: top legal tips

Drinks promotions: top legal tips

In this top tips series we continue our analysis of the practical implications of the changes to...

Follow us on