UK recovery concerns: BoE leaves rates unchanged
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.