The rate remains the same

The rate remains the same


The Bank of England has kept the base interest rate at 0.5%

After last month’s rate cut to an all-time historic low the Bank of England’s Monetary Policy Committee now has very little scope to further stimulate the UK’s economy with rate reductions.

Whilst the much talked about "quantitative easing" has been introduced in an effort to effectively boost the circulation of money in the economic system, the £26.4 billion injection of funds has yet to make a difference to UK SMEs.

The Bank has reportedly said it will inject a further £75 billion of liquidity into the British economy to "oil the gears" of the financial system over the coming months with further reserves should it be needed.

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