Bank of England freeze Interest Rates
The MPC has announced today that Interest Rates have again been frozen at 0.5% and the Bank of England will inject (electronically) another £50 billion into the economy. This is on top of the £275 already injected through the purchase of assets.
The Quantitative Easing Initiative sees the Bank electronically create money which it passes onto Commercial Banks & Institutions in exchange for assets, this money is then spent on such things as shares/property and funding Companies which help jobs.
As this is not good news for savers or people depending on a pension, this should be good news for Businesses and Mortgage owners.
Read more about Quantitative Easing & the MPC’s decision at https://www.bankofengland.co.uk/monetarypolicy/index.htm
