Rates stay unchanged

Mark Carney, Governor of the Bank of England at the cricket ground in Chester-le-Street. (9045547)

Mark Carney, Governor of the Bank of England at the cricket ground in Chester-le-Street. (9045547)

First published in Business News The Northern Echo: Photograph of the Author by

THE Bank of England has held UK interest rates at a historic low of 0.5 per cent for another month.

The size of the Bank's economic stimulus programme - quantitative easing - was also unchanged at £375bn.

Debate over the timing of a rate rise has intensified, with Bank governor Mark Carney hinting recently that it could come by the end of this year.

UK interest rates have been at 0.5 per cent for five years. However, in June, Mr Carney said that interest rates could start to rise sooner than financial markets expected.

On a visit to the region in April Mr Carney told The Northern Echo that he had not ruled out increasing rates before next year's General Election.

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