Bank of England keeps interest rates at 0.1%

Monetary Policy Committee b Bank of England Unanimously to maintain Interest rate The benchmark for its operations is at its historic low of 0.1%, as announced by the Corporation, which has asked British banks to make the necessary preparations to manage a negative rate scenario, although it stressed that this does not imply an indication of its monetary policy.

Meanwhile, the Bank of England committee also kept the amount of the asset purchase program unchanged at 895 billion pounds (1.02 trillion euros), including 875 billion pounds (996 137 million euros) in asset purchases. Sovereign bonds And 20 thousand million pounds (22,782 million euros) in the form of bonds of non-financial companies.

“Although the committee has made it clear that it does not want to send any signal that it intends to set a negative rate at some point in the future, it has concluded that it would be appropriate to start preparations so that it has the ability to do so in the future,” the Foundation states in its report on Monetary policy.

Consequently, the BoE committee requested the UK’s prudential regulatory authority to contact the regulated entities to ensure that they initiate preparations so that they are ready to apply a negative rate at any time “after six months”.

See also  The Top 5 Cryptocurrencies to Invest in for 2022

Leave a Reply

Your email address will not be published. Required fields are marked *