UK recovery concerns: BoE leaves rates unchanged

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The Bank of England (BoE) Monetary Policy Committee voted today that Bank Rates will continue to remain at 0.5% amidst ongoing doubts over the health of UK economic recovery.

Bank Rates set by the British Central Bank have remained unchanged for more than six years now, the committee decided unanimously to extend the decision.

It also voted to to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.

Key factors of concern for the UK  economic recovery remain weak inflation data as well as productivity, which remains below pre 2008 levels.

The Organization for Economic Cooperation and Development (OECD) yesterday reduced its growth forecast from 3% in Q4 2014 to 2.4% in Q4 2015.

ABOUT THE AUTHOR
Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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