{"id":4350,"date":"2014-03-06T12:50:15","date_gmt":"2014-03-06T12:50:15","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=4350"},"modified":"2014-03-06T12:50:15","modified_gmt":"2014-03-06T12:50:15","slug":"uk-interest-rates-kept-at-record-low","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/03\/uk-interest-rates-kept-at-record-low\/","title":{"rendered":"UK interest rates kept at record low"},"content":{"rendered":"<p><a href=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/UK-bank.jpg\"><img loading=\"lazy\" class=\"alignright size-medium wp-image-4352\" alt=\"UK bank\" src=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/UK-bank-300x168.jpg\" width=\"300\" height=\"168\" srcset=\"https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/UK-bank-300x168.jpg 300w, https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/UK-bank.jpg 624w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>UK interest rates have been held at 0.5% for another month, the Bank of England has said.<\/p>\n<p>The decision by the Bank&#8217;s Monetary Policy Committee comes five years after the record low level was first introduced.<\/p>\n<p>It is the first rate decision since the bank amended its &#8220;forward guidance&#8221; policy that linked borrowing rates to unemployment figures.<\/p>\n<p>Rates are unlikely to rise before the spring of 2015, analysts believe.<\/p>\n<p>The Bank also kept its \u00a3375bn quantitative easing (QE) programme unchanged.<\/p>\n<p>The half-decade of ultra-low interest rates has seen returns on savings hammered, while mortgage borrowers have reaped the benefits of lower repayments.<\/p>\n<p>The committee&#8217;s interest rate decision was the first to be based on &#8220;fuzzy guidance&#8221;, which links borrowing rates to the speed at which the economy uses up spare capacity, as measured by 18 indicators.<\/p>\n<p>Howard Archer, chief economist at IHS Global Insight, said: &#8220;The Bank of England clearly wants to nurture recovery and not to risk choking it off by raising interest rates too early or too fast.&#8221;<\/p>\n<p>The Bank is likely to raise the interest rate to about 1% over the course of 2015, then to 2% by the end of 2016, Mr Archer said.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: BBC<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK interest rates have been held at 0.5% for another month, the Bank of England has said. The decision by the Bank&#8217;s Monetary Policy Committee comes five years after the record low level was first introduced. It is the first rate decision since the bank amended its &#8220;forward guidance&#8221; policy that linked borrowing rates to [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":4352,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[14],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK interest rates kept at record low - Citi 97.3 FM - Relevant Radio. 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