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BoE holds interest rates at record low

BoE holds interest rates at record low

The Bank of England (BoE) has kept interest rates at 0.1%, a record low, and has also left its quantitative easing bond-buying programme unchanged. The Bank has warned that the UK's economy is "unusually uncertain", saying it “depends on the evolution of the pandemic and measures taken to protect public health, as well as the nature of, and transition to, the new trading arrangements between the EU and the UK." The Government's independent forecaster, the Office for Budgetary Responsibility, predicts that the economy will shrink by 11.3% this year and expects unemployment to peak at 9.7%.

Read more: BBC News


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