Bank of England cuts interest rates to record low of 0.1%
For the second time in a little over a week, The Bank of England has cut its already low interest rates in a bid to support the UK economy.
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Bank of England raises base rate to 0.50 per cent
At its meeting ending on 1 November 2017, the Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase Bank Rate by 0.25 percentage points, to 0.5 per cent. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee also voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435 billion.
