Bank keeps rates at 0.5%

clock

The Bank of England has again held rates at 0.5% amid signs the economic recovery is failing to gather momentum.

In a widely expected move, the Monetary Policy Committee's (MPC) decision to keep rates at historical lows comes on the back of a spate of downbeat economic data. Today's decision marks the 26th consecutive month rates have remained unchanged. The Bank also kept its quantitative easing programme at £200bn. Shortly before the MPC released its decision, the FTSE 100 was down 0.8% to 5933 and following the announcement the index dropped to 5922, down 1%. Disappointing GDP growth figures for Q1 - which showed the economy grew just 0.5% after a 0.5% contraction in Q4 - along with negati...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'It's a challenging time': Advisers react to record gilt yield rises

'It's a challenging time': Advisers react to record gilt yield rises

Clients worried about a weakening UK economy

Isabel Baxter
clock 13 January 2025 • 5 min read
Four potential 'black swans' for 2025

Four potential 'black swans' for 2025

'Four unlikely but nonetheless plausible scenarios'

Nathan Sweeney
clock 03 January 2025 • 4 min read
What two pizzas tell us about Bitcoin

What two pizzas tell us about Bitcoin

Laszlo Hanyecz really needed a slice...

Laith Khalaf
clock 19 December 2024 • 6 min read