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Bank of England Leaves Interest Rates Unchanged

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The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment.

At its meeting ending on 31 October 2018, the MPC voted unanimously to maintain Bank Rate at 0.75% and stated that any future increases are likely to be at a gradual pace and to a limited extent. 

The next update will be announced on 20th December 2018.

Business Growth Expert and Yomdel CEO, Andy Soloman, commented:

“Great to see the Bank of England hold its nerve and keep interest rates static at 0.75%. This should deliver yet another boost for UK business off of the back of a favourable Autumn Budget for smaller bricks and mortar retailers, in what has otherwise been a testing year at times.

While the Budget failed to deliver from a property point of view, this continued affordability of mortgage rates should at least sustain a muted level of buyer demand and keep an otherwise sluggish market on life support for the remainder of the year.”

We cover the Bank of England Bank Rate, Nationwide's House Price Index and many other economic statistics over on our Economic Data page

Source : Insight DIY Team and Bank of England

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01 November 2018

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