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UK interest rates cut to 0.25%

gunner

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"The Bank of England announced a range of measures to stimulate the UK economy including buying £60bn of UK government bonds and £10bn of corporate bonds.
The Bank also announced the biggest cut to its growth forecasts since it started making them in 1983.
It has reduced its growth prediction for 2017 from the 2.3% it was expecting in May to 0.8%.
The decision to cut interest rates to 0.25% was approved unanimously by the nine members of the Monetary Policy Committee (MPC) and is the first change in interest rates since March 2009."

UK interest rates cut to 0.25% - BBC News

As one reporter suggested, 'the BOE has thrown the kitchen sink at the economy, this time'.
 

PeteEU

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"The Bank of England announced a range of measures to stimulate the UK economy including buying £60bn of UK government bonds and £10bn of corporate bonds.
The Bank also announced the biggest cut to its growth forecasts since it started making them in 1983.
It has reduced its growth prediction for 2017 from the 2.3% it was expecting in May to 0.8%.
The decision to cut interest rates to 0.25% was approved unanimously by the nine members of the Monetary Policy Committee (MPC) and is the first change in interest rates since March 2009."

UK interest rates cut to 0.25% - BBC News

As one reporter suggested, 'the BOE has thrown the kitchen sink at the economy, this time'.

As long as the political situation is so uncertain, then whatever the BOE does will have limited effect if any at all.

As it stands now, the new Brexit department is having a hard time finding people to fill thousands of posts.
 

Andalublue

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How to turn an energetic, recovering economy into a failing, basket case in one easy referendum. :roll:
 

gunner

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:shocked2:
How to turn an energetic, recovering economy into a failing, basket case in one easy referendum. :roll:

I don't believe my eyes! Is that an endorsement for the government policy up until the vote?
 

Andalublue

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:shocked2:

I don't believe my eyes! Is that an endorsement for the government policy up until the vote?

No. Had little to do with government policy, more to do with relative stability. Let's not forget that the referendum was the government's main policy and number one priority.
 

gunner

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No. Had little to do with government policy, more to do with relative stability. Let's not forget that the referendum was the government's main policy and number one priority.

I'm not so sure you can detach the two Andy, we were, the best performing economy in Europe surely not in spite of the government, but because of some of the policy prescription?
 

Andalublue

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not in spite of the government, but because of some of the policy prescription?

Which, specifically? Strikes me that the key decision that ensured the more rapid recovery than our EU partners was Gordon Brown's decision to remain outside the Eurozone.
 
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