Thursday, Oct 08, 2009

UK interest rates on hold at 0.5% for the seventh successive month

BBC: UK interest rates remain on hold

The Bank of England's rate-setting committee has kept UK interest rates on hold at 0.5% for the seventh successive month, as widely expected. The Bank also said it would continue with its programme of pumping £175bn into the economy, which it said would likely take another month to complete. Interest rates remain on hold as data continues to show that any UK economic recovery remains patchy. Figures out later this month could show that the UK has exited recession.

Posted by jack c @ 12:10 PM (1096 views)
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1. stillthinking said...

What happens when 175bn pumping is complete? I am guessing there won't be any sign of a sustainable recovery in the next 4 weeks.

Thursday, October 8, 2009 12:38PM Report Comment

2. mystie010 said...

Feb next year - the start of Boil the frog! me thinks. If I'm wrong I won't dare show my face on here again I'm sure.

Thursday, October 8, 2009 12:39PM Report Comment

3. flintster1994 said...

After the 175bn pumping is complete, they pump another 175bn. Simples!

Thursday, October 8, 2009 12:56PM Report Comment

4. alan said...

The ECB kept rates unchanged today, the euro has surged 18 percent against the dollar since February.

A useful summary of the Euro's outlook is recorded by Bloomberg:

It looks a bit more optimistic than the UK's situation. However, a strong Euro won't help them much, going forward. Meanwhile Cameron is saying "painful cuts" are needed for the UK. I'll leave the site experts to decide what that means for UK house prices....

Thursday, October 8, 2009 02:22PM Report Comment

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