Interest rate held at record low 0.5pc

first_img Show Comments ▼ Thursday 10 March 2011 7:02 am whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap The Bank of England has frozen the interest rate at 0.5 per cent again.The number of Bank of England policymakers backing an interest rate hike increased last month as inflation with Spencer Dale, chief economist at the Bank, joined fellow MPC members Andrew Sentance and Martin Weale in voting to lift rates.With inflation rising, pressure to increase the rate has been growing.Edward Menashy, Chief Economist at Charles Stanley said: “The downward revision to fourth quarter 2010 GDP from -0.5 per cent to -0.6 per cent when most economists, including those at the Bank of England, had expected an improvement that had clearly not materialised, confused further deliberations.” “The Bank of England is sticking rigidly to its view that the rate of inflation should be declining by the year end due to the dropping out of higher base factors and the existence of ample spare capacity.” Interest rate held at record low 0.5pc center_img John Dunne whatsapp Share Tags: NULLlast_img

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