MPC agrees unanimously to hold rates

by Aaron Strutt

Jun 18 2015

The Bank of England’s Monetary Policy Committee voted 9-0 to maintain the base rate at 0.5% following its June meeting.

All nine members voted to keep rates on hold, although two members did say their decisions were “finely balanced”. Base rate has now been on hold for more than six years.

Nick Dixon, investment director at Aegon UK, commented: "The double whammy of low inflation and rising wages should boost consumer confidence, with people feeling the benefits of more cash in their pockets.

"Mildly positive inflation shows the UK economy is heading in the right direction. Though, with the 2% inflation target looking increasingly distant, our expectations of a rate rise sit well into 2016."