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| Interest rates 'maintained for longest period since 1953' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Thursday, 08 July 2010 00:00 |
 The Monetary Policy Committee's (MPC's) decision to leave the base interest rate the same means that it has now remained unchanged since for the longest period in nearly 60 years.At its meeting yesterday, the Bank of England's MPC kept the interest rate at 0.5 per cent and the quantitative easing programme at £200 billion as the country continues to emerge from the global economic downturn. This is the 16th month in succession that these figures have remained unchanged and Ray Boulger of independent mortgage advisory firm John Charcol has commented that this period of stability is unmatched in the time that Queen Elizabeth II has been on the throne. Mr Boulger went on to state that the rate is likely to stay at a similar level for the remainder of the year "as the markets are looking at the European bank stress testing with increasing scepticism". Meanwhile, the MPC's decision corresponds with a prediction given yesterday by expert Charles Davis, who indicated that the government's recent measures of fiscal tightening meant there was a good case for the Bank to keep the rate as it was. Posted by James Strang 
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