monetary policy committee

Bank of England - Interest Rates Kept at 5%

Interest Rates Kept at 5%

The Bank of England‘s Monetary Policy Committee decides to hold the interest rate at 5% for the second consecutive month. On opposing sides of the argument to cut or maintain interest rates were the Home Builders Federation, calling for a half point cut to 4.5%, arguing that the continued slowdown in the housing market could be avoided by such a cut and the British Retail Consortium supporting the move to leave the rates unchanged. After the cut to 5% in April this is the second month in a row that the Monetary Policy Committee has held the interest rate due to inflationary pressures. Inflation rose to 3% in April, well above the government’s target and Gordon Brown’s Golden Rule of an inflationary figure of 2%. In Europe today, the European Central Bank also kept rates a... »


Rates Cut to 5.25%

The Bank of England cuts interest rates to 5.25% »