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Base rate held and no more QE for now

The Bank of England’s Monetary Policy Committee has decided to hold the base rate at 0.5% for the 39th consecutive month and to keep its quantitative easing programme at £325bn.

In February, the Bank voted to increase the size of its QE programme by £50bn to £325bn. This round completed last month.

The minutes of last month’s MPC meeting show David Miles was the only member out of nine to vote for QE to be boosted by a further £25bn.

Ben Thompson, managing director at Legal & General Mortgage Club, says: “With the economy still uncertain, it is no surprise to see interest rates unchanged.

“This will hopefully encourage people who want to move house to think about doing so.”

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