On Thursday 9th Jan, The Bank of England (BoE)’s Monetary Policy Committee (MPC) has kept the UK base interest rate at the record low of 0.5% for the 58th consecutive month.<\/p>\n
Yes, it is getting close to 5 years now when rates were cut to 0.5% in March 2009.<\/p>\n
Since then we have seen \u00a3375bn of Quantative Easing, cheap money pumped into the economy. Infact it is more than \u00a3375bn<\/strong>, as one has the interest (the coupon<\/strong>) on all the HM Government Gilts that are owned by the Bank of England, that is rarely reported.<\/p>\n Now the Bank of England stated it would not even consider raising interest rates until unemployment reached a threshold of 7.0%, which gave certainty to the market back in mid-2013, so the question is whether rates in 2014 will remain at 0.5%.<\/p>\n It all depends on the UK recovery and the reduction in unemployment.<\/p>\n","protected":false},"excerpt":{"rendered":" On Thursday 9th Jan, The Bank of England (BoE)’s Monetary Policy Committee (MPC) has kept the UK base interest rate at the record low of 0.5% for the 58th consecutive month. Yes, it is getting close to 5 years now when rates were cut to 0.5% in March 2009. Since then we have seen \u00a3375bn […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-427","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=427"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/427\/revisions"}],"predecessor-version":[{"id":428,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/427\/revisions\/428"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}