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The Bank of England left the base interest rate unchanged

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The Bank of England left the base interest rate unchanged

The Bank of England left the base interest rate unchanged
July 14
10:30 2016

The Bank of England left the base interest rate at an unprecedented level of 0.5% according to the results of the meeting on13-14 July. This happened despite the fact that most of the experts made predictions of its decline to 0.25%. The rate of the UK Central Bank has remained unchanged for more than seven years from March 2009.

At the meeting in July eight of the nine members of the Committee on Monetary Policy (MPC) of the Bank of England voted to confirm the interest rate at the same level. The Governor of the Bank of England Gertjan Vlieghe was the only one who supported the rate cut to 0, 25%. According to the meeting protocol of the Bank of England, most of the leaders of the British Central Bank expressed expectations for the monetary policy easing in August.

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