Bank of England leaves interest rates unchanged as UK recovery picks up

Friday, April 11th 2014 - 04:22 UTC

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UK interest rates have been held at their record low of 0.5% for another month by the Bank of England. On Thursday the Bank also kept the size of its bond-buying stimulus program unaltered at £375bn. No changes had been expected to either rates or the bond-buying measure, despite recent evidence that the UK economy is continuing to recover. Read full article

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Conqueror
Oh, look at that. WE have no need to change our “economic model”. Explore the 2.9% growth. That's 2.9% of an economy one thousand times that of argieland. Why don't we give workers 30+% pay increases? There's no “simple” explanation. Other than that CFK is “simple”. Argieland has adopted a new model. Poverty, starvation, dictatorship, nepotism. Don't care. Let argieland die!
Apr 11th, 2014 - 02:03 pm - Link - Report abuse 0
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Fido Dido
UK's economy “grows” while debt and unemployment is on the rise..really good news huh...
http://www.maxkeiser.com/?s=UK&submit=Go

Idiot Conqueror seriously believes in flying reindeer's.
Apr 11th, 2014 - 04:21 pm - Link - Report abuse 0
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Teaboy2
Lol Fido - You really must learn to check and counter check the facts before posting assumptions based solely on one piece of evidence.

The UK deficit has been reduced to £96 billion as of December 2013, meaning borrowing is lower as spending has been cut, whilst unemployment has been reduced and employment levels are now at an all time high, meaning more income tax paid to the government, and reduced wealth fare bill as a result. Less spending, more income for the government means less borrowing and reduction in deficit. Within the next 12 years, if we keep going the way we are, the UK will not be borrowing anything at all, and eventually all debts paid off completely - So we are on the right path, unlike argentina.

Also our current level of debt is about 75% of GDP (your extra 100billion doesn't change anything, as its nothing but pennies in the pound so to speak) So our current level of debt v GDP is nothing compared to the levels of debt we experienced in the 1930's to 1950's where it peaked at 240% GDP, which is on par with where Japans current level of debt is today.

Also 70% of the UK's debt is actually held in the UK in pension funds etc, and is not therefore owed to any foreign body or state, unlike most other major nations like the USA. The UK also has longer repayment periods than most other countries, we get as much as 12 years before making repayment for any loan taken, compared to Greece who has to constantly make repayments to loans and therefore has to borrow more to make repayments on previous loans. So we don't have to borrow more to meet repayments, as we have up to 12 years before making any repayment towards, or before repaying, any loan taken.

You will find the following will educate you better - http://falseeconomy.org.uk/cure/how-big-is-the-problem

Just 6p in every pound spend last year went on debt repayments compared to 8p in 1996. So were in a better position than we were in 1996 Fido - Think about it Fido.
Apr 12th, 2014 - 01:06 pm - Link - Report abuse 0
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