- Bonuses and Promotions
The Bank of England did not begin to change the cost of the base interest rate, leaving it at 0.75% after the September meeting.
The British central bank also supported the volume of the program of buying government bonds at the level of 435 billion pounds ($ 568.1 billion) and the volume of purchase of corporate bonds at the level of 10 billion pounds.
All actions of the bank coincided with market expectations. The decision to keep the rate was unanimously adopted.
At the last meeting, the Bank of England raised the rate to the current level, which became the highest since 2009. In addition, members of the Committee on Monetary Policy (MPC) noted the strengthening of economic activity and now expect GDP growth in the UK in the third quarter to be 0.5% against the previously expected increase of 0.4%. The bank's press release says that the increase in consumer spending played an important role in changing the forecast. And the increase in uncertainty is directly related to the UK's withdrawal from the EU.