BoE reduces base rate again to 0.1%

The Bank of England (BoE) has cut interest rates further amid the Covid-19 crisis. At a special meeting yesterday, the Monetary Policy Committee (MPC) unanimously voted to cut interest rates from 0.25% to 0.1% and to increase holdings of UK government and corporate bonds by £200bn. The BoE, which has just appointed Andrew Bailey as its new governor, said the …

Retirement ProfessionalsBoE reduces base rate again to 0.1%

BoE slashes interest rate to 0.25%

In a bid to shore up the economy the Bank of England has cut interest rates back to their lowest ever level, 0.25% from 0.75%. The MPC (Monetary Policy Committee) voted unanimously to slash the bank rate at an unscheduled meeting, which ended yesterday. The rate cut is part of a ‘package of measures to help UK businesses and households …

Retirement ProfessionalsBoE slashes interest rate to 0.25%

Bank of England hikes interest rates for first time in a decade

The Bank of England have voted to raise UK interest rates for the first time in a decade. Interest rates will increase by 25bps to 0.5% from 0.25%. This means the Bank have reversed the rate cut of August 2016, when it eased monetary policy to help Britain’s economy through the aftermath of the Brexit vote. The Monetary Policy Committee …

Retirement ProfessionalsBank of England hikes interest rates for first time in a decade

Bank of England hold interest rate at 0.25%

Bank of England hold interest rate in September. The Bank of England have left UK interest rates unchanged this month after promising economic data. After cutting interest rates to a new record low last month, the Bank of England’s Monetary Policy Committee decided unanimously to hold interest rates at 0.25%. This policy move follows recent data which suggests the economy …

Retirement ProfessionalsBank of England hold interest rate at 0.25%