You are here: Home - Remortgage - News -

Voters unanimous on freezing Base Rate at 0.5%

0
Written by:
23/01/2013
The Bank of England

Minutes from the meeting held on 9 and 10 January 2013 show the nine man committee all voted in favour of holding rates for a further month.

Bank Base Rate has been held at 0.5% since March 2009.

They were also asked to consider whether the Bank should maintain quantitative easing programme at a level of £375bn. Eight members agreed with that proposition, although David Miles voted in favour of raising the asset purchase programme by a further £25bn.

The committee also felt that its Funding for Lending Scheme was proving a success.

The minutes said: “Despite the recent weakness of credit growth, there was growing evidence that credit supply conditions had improved as the Bank’s Funding for Lending Scheme (FLS) gained traction and as sentiment in financial markets improved more generally.”

The panel later added that it was ‘too soon’ to consider the full impact the scheme has had on the wider economy.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your Mortgage Guides

Your Mortgage Award Winners 2018-2019

Download our guide to the best mortgage lenders in the UK

Read More >

Read previous post:
mutuals
First-time buyers urged to look at joint ownership

Estate agents suggest that aspiring first-time buyers should consider getting together with friends and family to secure their first step...

Close