05/07/2012
BoE To Pump Extra £50bn Into UK
An extra £50 billion will be pumped into the UK economy over the next four months through the quantitative easing (QE) programme to try and boost demand, the Bank of England has announced.
QE is the Bank's scheme that aims to boost the economy by buying bonds. Currently the stimulus stands at £325bn.
The Bank also said it would leave UK interest rates unchanged at 0.5%.
The Bank's Monetary Policy Committee (MPC) has held rates at their current record low for more than three years.
The Bank said that the UK economy, which is back in recession, had "barely grown for a year and a half", and added that growth in export markets had also slowed.
The additional stimulus had been expected following last month's MPC meeting, when four of the nine members voted to increase QE.
Since then, the UK economy has shown no real signs of recovery.
(H)
QE is the Bank's scheme that aims to boost the economy by buying bonds. Currently the stimulus stands at £325bn.
The Bank also said it would leave UK interest rates unchanged at 0.5%.
The Bank's Monetary Policy Committee (MPC) has held rates at their current record low for more than three years.
The Bank said that the UK economy, which is back in recession, had "barely grown for a year and a half", and added that growth in export markets had also slowed.
The additional stimulus had been expected following last month's MPC meeting, when four of the nine members voted to increase QE.
Since then, the UK economy has shown no real signs of recovery.
(H)
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04 August 2011
Interest Rates Held At Historic Low
The interest rate has again been kept at the record low of 0.5% by the Bank of England's Monetary Policy Committee (MPC). This comes as no surprise as most economists had anticipated that the rates would remain unchanged due to the subdued economy after new that GDP figures for the second quarter showed growth of just 0.2%.
Interest Rates Held At Historic Low
The interest rate has again been kept at the record low of 0.5% by the Bank of England's Monetary Policy Committee (MPC). This comes as no surprise as most economists had anticipated that the rates would remain unchanged due to the subdued economy after new that GDP figures for the second quarter showed growth of just 0.2%.
16 May 2008
Little Hope Of New Interest Rate Fall
The UK should not expect another cut in interest rates for at least two years, the Bank of England indicated yesterday. It also warned that inflation would rise far above its previous forecasts and persist at levels well above the government’s target until early 2010.
Little Hope Of New Interest Rate Fall
The UK should not expect another cut in interest rates for at least two years, the Bank of England indicated yesterday. It also warned that inflation would rise far above its previous forecasts and persist at levels well above the government’s target until early 2010.
05 May 2011
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
12 November 2008
Pre-Budget Date Announced
The Chancellor's pre-Budget report is to be published on Monday 24 November, it has been confirmed. It is highly-anticipated that the findings in the report will lead to tax cuts, aimed at stimulating the economy, amid fears of a UK recession.
Pre-Budget Date Announced
The Chancellor's pre-Budget report is to be published on Monday 24 November, it has been confirmed. It is highly-anticipated that the findings in the report will lead to tax cuts, aimed at stimulating the economy, amid fears of a UK recession.
16 November 2011
Central Bank Warns Of Double Dip
The Bank of England is warning of an increased threat of a double-dip recession next year. The bank said there was a greater chance of the economy contracting in the first three quarters of 2012 compared to previous forecasts, noting the eurozone crisis as the biggest threat to the UK.
Central Bank Warns Of Double Dip
The Bank of England is warning of an increased threat of a double-dip recession next year. The bank said there was a greater chance of the economy contracting in the first three quarters of 2012 compared to previous forecasts, noting the eurozone crisis as the biggest threat to the UK.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
