The Bank of England has kept the base rate at its 21 month 0.5% level. Alongside this decision, Quantitative Easing is to remain unchanged.
We have previous revealed that one of the nine members of the Monetary Policy Committee, Andrew Sentance, has publicly voiced his opinion that rates should start rising now to avoid sharp pain later. Although the held rate decision has been passed this month, we will not know the voting details until the minutes from the MPC’s meeting are published.