Bank of England holds stance

As expected, the UK’s central bank held rates today and kept the stock of assets unchanged at £200bn.

The UK’s base rate has now been on hold for the longest period since the war. The previous longest-serving interest rate was a 2 per cent rate that stretched from 1939 to 1951.

The UK’s decision contrasts with yesterday’s choice by the Fed to increase quantitative easing by $600bn.