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MSE News: Base Rate unchanged at 0.5%
Former_MSE_Guy
Former MSE 1.7K Posts
This is the discussion thread for the following MSE News Story:
"The Bank of England today announced it is holding the Base Rate at 0.5% for the ninth consecutive month ..."
"The Bank of England today announced it is holding the Base Rate at 0.5% for the ninth consecutive month ..."
Read the full story:
Base Rate unchanged at 0.5%
Base Rate unchanged at 0.5%
0
This discussion has been closed.
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12:00 05Nov09 BANK OF ENGLAND HOLDS KEY UK INTEREST RATE AT 0.5 PCT
12:00 05Nov09 BANK OF ENGLAND SAYS TO COMPLETE NEWLY ANNOUNCED QE PURCHASES WITHIN THREE MONTHS
12:01 05Nov09 BoE raises QE by 25 bln stg, leaves rates at 0.5 pct
LONDON, Nov 5 - The Bank of England said on Thursday it would expand its quantitative easing programme by 25 billion pounds to help kick-start Britain's recession-hit economy.
The increase brings the central bank's total asset-buying programme to 200 billion pounds, the equivalent of more than 14 percent of Britain's economic output.
The BoE also left interest rates unchanged at a record low of 0.5 percent, as expected.
Two-thirds of analysts had predicted the BoE would expand its asset-buying scheme, but opinion had been split on whether the increase would be 25 billion or 50 billion pounds.
Conflicting signals over the health of Britain's economy had made this week's decision a difficult one to call. Britain's economy contracted unexpectedly in the third quarter, making the current recession the longest since records began more than 50 years ago, but more forward-looking surveys have painted a brighter picture. (Editing by Mike Peacock)
(MSE Andrea says ok!)
(http://forums.moneysavingexpert.com/showthread.html?t=2057529 post 2 or 3)
Market unsurprised? All as normal?
I'm still worried...
Cable likes it (as they didnt do 50bn) and has moved up to 1.6580 from 1.6530
Futures are pretty much unchanged.
Its all pretty much as expected
(MSE Andrea says ok!)
Hey MSE Guy, you should add into the header that QE was 25bn, as that was really the only issue here. Rate was never going to change.
(MSE Andrea says ok!)
£25,000,000,000 / 60,000,000 (uk population) = £416 per person in the uk this has cost us.
Take off the kids, unemployed, schoolies and retired folk it will probably about £1000 per working uk person this month.
& Choo Choo for trains!!
I'm glad 'back of stamp' has replaced 'back of a fag packet'.
We are so much healthier these days
Not exactly. The £25bn is "quantitative easing".
At least Hitler & Mugabe were open about it when they did it, using the more familiar term, i.e. printing money. :cool:
Your back of stamp maths calculation of £416 is just this month.
Kris is saving the £350 every month
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall: