UK interest rates are now just one month shy of notching up a whole calendar year at the current all-time low rate of 0.5%. The Bank of England's Monetary Policy Committee (MPC) has announced that interest rates will once again be held at 0.5%, following the February 2010 MPC meeting.
Interest rates were first cut to 0.5% in March 2009 (external website).
The next movement in rates is more than likely to be an upwards one. But it remains uncertain when that move will come.
The £200 billion quantitative easing programme is also to be maintained at its current level.
The MPC is therefore continuing to take a 'wait and see' approach at present, even following the confirmation late last month that the UK economy has at last emerged from recession (if only barely).
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