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Market News
This news is taken from our monthly market and economic newsletter, London Update.
Issue 46: November 2009
Bank of England Extends Quantitative Easing by £25billion
GDP had been expected to grow by 0.2% in Q3 2009, but the unexpected contraction of 0.4% means that Britain is the only major economy to remain in recession. Fears over the UK's economy were highlighted when the Bank of England voted to extend its programme of quantitative easing by a further £25billion, taking the total value of economic stimulus to £200billion. Neil Young, CEO of Young Group commented, “Until the economy is back on track it is highly unlikely that base rate will rise.”
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Current Bank Rate
0.5% - Next due: 05 Aug 10
Current Inflation (CPI)
3.2% - Next due: 17 Aug 10
3-month Sterling LIBOR
0.73344% - 13 July 10
Current Bank Rate
0.5% - Next due: 05 Aug 10
Current Inflation (CPI)
3.2% - Next due: 17 Aug 10
3-month Sterling LIBOR
0.73344% - 13 July 10
