BoE Holds Rates Offers No Guidance

The Bank of England has given no further guidance on when it might raise interest rates, after deciding to keep them on hold at 0.5% once again.

There had been speculation that the Bank might have to refine its threshold for increasing rates.

Back in August, governor Mark Carney said unemployment would have to decline to 7% before an interest rate rise would be considered.

An improved economy has meant that could happen sooner than expected.

The Bank also made no further addition to its £375bn bond-buying scheme known as quantitative easing (QE).

Base rates have now been at 0.5% since March 2009.

via BBC

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