BoE keeps rates at 0.50%

In a scheduled announcement, the Bank of England has kept its interest rate at 0.50% for the third month in a row. The central bank was widely expected to keep interest rates on hold following their unprecedented monetary easing since October last year. Despite the base rate remaining at a historic low, and a quantitative easing strategy already being deployed, credit conditions remain tight in the UK for businesses and individuals alike. The Bank of England is due to complete its £125 billion quantitative easing programme next month.