BoE Did Not Change Interest Rate

The BoE did not change the interest rate. The Bank of England (BoE) kept the interest stable at 0.1 percent.

The Bank of England (BoE) kept the policy rate at a record low of 0.1 percent and the asset purchase program at 895 billion pounds. The decision was taken unanimously. At this meeting, the BoE repeated its promises that there will be no tightening in monetary policy without clear evidence of economic recovery. The BoE has cut interest rates twice since the coronavirus outbreak began. In the past months, there have been long-term discussions about negative interest rates. Last month, the Bank of England (BoE) stated that banks need at least 6 months to prepare for the negative interest rate environment, but this policy will not be a measure to be implemented in a short time. On the other hand, it is stated that the UK economy has given signs of recovery as the coronavirus vaccination continues and the government continues its support programs.