Interest rates in UK kept frozen at half per cent
The Bank of England is planning to put in 75 billion pounds in the economy of the country so that condition can become much better. All this is going to take place due to their policy of Quantitative Easing. The Monetary Policy Committee of Bank of England has frozen the rate of interest in UK at a low figure of 0.5 percent. This has happened from the month of March in 2009. As far as the policy of quantitative easing was concerned, the Bank has not brought any changes till that time. A few months back the Bank had made an announcement that they would be bringing in around almost 75 billion pounds into the country. Which is really a good measure as the economy is going through many up and downs at the current time.
This announcement of the bank was widely accepted by all as the country is facing the problem of weak economy due to reasons such as the Euro zone crisis as well as the capacity of the consumer of spending that has grown weak. The production as well as the outputs of the industry has got down to a very low level. This also includes the sector of manufacturing as well as. This thing came into notice with the help of the data that were released by the Office for National Statistics a few days back. The European Central Bank has not even changed the Euro zone rate of interests that was fixed earlier at 1 percent. These types of steps will really helpful to hold the economy strongly.
It is quite possible that as there were rumors going around that the European Central Bank may again plans for the Quantitative Easing that is QE. This is going to help furthermore in the creation of new money so that the debts of the government can be paid off as well as other financial markets from the market can also be bought. In the month of March to February last year the Bank had already put in around almost 200 billion money of money into the economy through QE. Apply at same day loans no credit check @ http://www.samedayloansnocreditchecksuk.co.uk/ and get funds same day.
About their announcement of further putting in 75 billion pounds in to the economy, a lot of economists are having an expectation that the Bank would be putting in 50 billion pounds more into the economy under this Quantitative Easing.
Apart from these, there are chances the Bank in order to make the condition of the economy better, is going to bring in more and fresher policies. In the present situation they are giving their support to the 'credit easing' plan that has been introduced by the government so that small as well as medium sized businesses can be helped.
In the year 2011, when the country was going through the phase of high inflation that was rising continuously, the Bank had to give a justification about the kind of easy monetary policy that they were following.
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