BoE holds rates and QE

Sam Cordon

July 4, 2013

The MPC voted to keep interest rates on hold at 0.5% and voted against a further round of quantitative easing.

The decision was widely expected and follows a follows a raft of upbeat data which has reinforced hopes that growth in the UK economy was stronger in the second quarter than the first.

Simon Gammon, managing partner of Knight Frank Finance, said: “Mark Carney delivered no surprises on his first outing as Bank of England governor, keeping the base rate and the quantitative easing threshold unchanged.

“We will not get a glimpse into his attitude until the minutes of the rate meeting are published in two weeks’ time, but perhaps the first real insight into his thoughts on the economy and base rates will come in next month’s inflation report, when he will be grilled by journalists for the first time since starting his new role.”

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