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| Expert says interest rate likely to remain at 0.5% |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Wednesday, 07 July 2010 00:00 |
 An expert has said today (July 7th) that there is unlikely to be any alteration in the country's interest rate following the latest meeting of the Monetary Policy Committee (MPC).The Bank of England's MPC is scheduled to meet later today in order to decide whether or not the base rate should be increased from its current level of 0.5 per cent. The MPC last met on June 10th and opted to maintain the level as well as keeping the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. However, later in June Dr Andrew Sentence told a meeting of the committee that the base rate should be upped by 25 basis points due to the fact that inflation had managed to remain resilient following the global economic downturn. Nevertheless, Charles Davis, managing economist at the centre for economics and business research (cebr) believes that recent fiscal tightening by the government means there is "a fairly strong case to keep monetary policy looser for longer". Posted by Mary King 
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