David Bexon, Managing Director of smartnewhomes.com, comments on the Monetary Policy Committee’s (MPC) decision to hold interest rates at 0.5% and increase its quantitative easing programme by £25bn:
“While we are finally starting to see some signs of increased competitiveness in the mortgage market, finance is still not moving quickly enough for the MPC to rest on its laurels.
“The UK recovery remains sluggish to say the least, with banks still largely hoarding the reserves from the monetary stimulus provided to date. As well as keeping up the pressure on lenders and maintaining current demand in the market by holding the historically low base rate, the MPC had little option but to increase its quantitative easing programme today for the chance of a sustainable recovery.”
See Also: Press Releases (372), Property News (6680), Interest Rates (13), Monetary Policy Committee (11), Interest Rate Statement (8), MPC (8)
Date Published: 05 November 2009
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