The Bank of England has today announced its base rate will remain at the record low of 0.5% for the sixth month running.
It also reported that it would continue to inject up to £175 billion into the economy as part of its quantitative easing scheme, but this amount will not be extended further.
This follows a number of recent surveys that suggest the UK has begun to emerge from the recession.
But the Bank said the recovery would be “slow and protracted” and that it is likely to be months before the full impact of its policies is seen.
The recent optimism about the future of the UK economy has had a positive affect on the FTSE 100 index, pushing it above 5,000 points for the first time since October last year. Continue reading ‘The Bank of England holds rates at record low’ »