MPC keeps Bank Rate unchanged at 0.5%

MPC keeps Bank Rate unchanged at 0.5%

Monetary Policy Committee (MPC) keeps the Bank Rate unchanged at 0.5%

Economic Analysis

07 February 2013

"Does this decision tell us that the MPC believes a durable recovery is on track, despite GDP falling at the end of last year and business survey results that are far from stellar? Or has the Committee come to the view that monetary policy is indeed "maxed out"? It seems the MPC retains faith in the ability of the Funding for Lending Scheme to provide a boost to growth. Without that, it's difficult to see how this decision pushes us closer to escape velocity."

Stephen Boyle, Head of Group Economics

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