UK interest rates held

Written by Adam Cadle

30/01/2020

The Bank of England’s Monetary Policy Committee (MPC) has held the Bank Rate at 0.75%.

The MPC voted by a majority of 7-2 to maintain the rate. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10bn.

In addition, the Committee also voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435bn.

Speaking today, BoE governor Mark Carney said fewer companies in the UK are worried about Brexit.

“To be clear these are still early days and it's less of a case of so far so good than so far good enough," he said.

"Although the global economy looks to be recovering, caution is warranted," he said. "Evidence of a pick-up in growth is not yet widespread."

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