The Bank of England’s Monetary Policy Committee (MPC) has once again voted unanimously to maintain the bank rate at 0.5%.
The MPC also voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves – so-called ‘quantitative easing’ – at £375 billion.
Dennis de Jong, managing director at UFX.com, said: “It is no surprise that the Bank of England has held interest rates once again – you have to go back to 2009 for the last change, and even further to 2007 for the last rise.
“The big question remains exactly how long the status quo can be maintained. Disappointing growth forecasts are unlikely to spur Mark Carney and his colleagues into action, and economists are whispering that savers may have to wait until the end of the year for a rise.
“However, the EU referendum is looming on the horizon and balanced precariously on a knife edge. Carney and Co. appear to have decided to wait for the result before intervening.”
