Bank of England holds interest rates at 0.5% for 11th month in a row
The Bank of England has announced today decisions to keep interest rates on hold at 0.5% and to stop the asset purchase facility at £200bn.
According to the Centre for Economics and Business Research (Cebr) the announcements signal a pause in the quantitative easing policy that is likely to last until after the General Election when the path for fiscal policy becomes clearer.
Cebr added that as the recovery is still emerging and the scale of fiscal tightening after the election unclear, the MPC has adopted a ‘wait and see' approach. The economists also argued that in doing so, policymakers have bargained that the rise in inflation
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