‘Now is not yet the time to raise interest rates’ – Carney

In a universally-expected move, the Bank of England has halved the Base Rate to an historic low of just 0.25% and renewed some quantitative easing. The BoE's interest rate had been at an already low 0.

The Bank of England’s Monetary Policy Committee (MPC) has voted by a majority of 8-1 to keep the Bank Rate at a deeply low 0.

"No surprise" from the prime resi sector as the Monetary Policy Committee votes 7-2 to increase the base rate from 0.25% to 0.5%