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Thursday April 05, 2012 - www.knowledgetoactionnews.com - Established 2004
Bank of England keeps interest rates steady
The bank also voted to continue with its current programme of asset purchases by selling central bank reserves, to a value of roughly £325 billion.
Investors deciding upon their trading strategies may be interested to learn that the Bank of England has decided to maintain its interest rates at their current level, which is a record low of 0.5 per cent.It anticipates that this will take around another month to complete.
The interest rate has remained steady since the decision to reduce it by 0.5 per cent in March 2009, in a bid to encourage investment and boost economic growth.
Ian McCafferty, CBI chief economic adviser, told the Telegraph the focus is now on whether the bank will decide to increase its asset purchase programme next month.
However, he predicted that the bank will maintain its current course, with the economic outlook becoming slightly more positive.
"Recent economic data has been more encouraging and with oil prices high, there's now less certainty around how far and how fast inflation will fall," Mr McCafferty added.
Posted by Greg Secker
- Knowledge to Action News05-04-2012
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