Bank of England maintains rates amid positive economic news
The Bank of England says the news on near-term economic activity in the U.K. has been “positive” as it maintained its main interest rate at the record low of 0.1%
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Bank of England says the news on near-term economic activity in the U.K. has been “positive” as it maintained its main interest rate at the record low of 0.1%.
In a statement Thursday, it said that all nine members of the rate-setting Monetary Policy Committee backed the decision to keep monetary policy unchanged.
The decision had been widely predicted in financial markets following the sharp fall in new coronavirus infections over the past couple of months amid a lockdown and the speedy rollout of the U.K.'s vaccination program.
By Wednesday, more than 25 million people in the U.K. had received a first dose of vaccine, nearly half of its eligible adult population.
The lockdowns across the four nations of the U.K. are slowly being eased and there are widespread hopes of a big pick-up in economic activity in the spring as restrictions are lifted.