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BoE ends 2015 with interest rates on hold

BoE ends 2015 with interest rates on hold

LONDON: The Bank of England (BoE) has kept interest rates at a half a per cent, it announced on Thursday in the last monetary policy decision of the 2015.

The BoE’s Monetary Policy Committee (MPC) kept its key rate at 0.5pc, where it has stood since March 2009, it said in minutes of the latest monthly gathering.

The bank also left unchanged the level of cash stimulus, or quantitative easing, at £375 billion ($565bn, 516bn euros).

The rate-setting MPC panel “voted by a majority of 8-1 to maintain bank rate at 0.5pc”, the bank said in the minutes.

The news comes as the US Federal Reserve is poised to deliver next week its first interest rate hike in almost a decade, while eurozone monetary policy is moving in the opposite direction.

“The MPC’s decision to leave interest rates on hold again today highlights how the UK is set to tread the middle path between a loosening ECB and tightening US Fed,” said Capital Economics economist Scott Bowman.

Published in Dawn, December 11th, 2015

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