05 Feb.
The Bank of England has decided to hold the interest rate at 0.5% and pause its programme of pumping newly-created money into the economy.
The Bank last week finished the latest round of quantitative easing (QE), bringing the total amount of newly-created money spent on Government and company bonds to £200bn.
In a statement, the Bank said: “The committee noted that this stock of past purchases, together with the low level of Bank rate, would continue to impart a substantial monetary stimulus to the economy for some time to come.
“The committee will continue to monitor the appropriate scale of the asset purchase programme and further purchases would be made should the outlook warrant them.”
The MPC’s no-change position follows a surprisingly weak climb out of recession in the final quarter of last year.
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