UK interest rates were held once again at their record low of 0.5%, it was confirmed yesterday by the Bank of England’s Monetary Policy Committee.
Interest rates have remained static since March 2009, when the rate was lowered from 1.0% to 0.5%.
The Bank didn’t announce any increases in its quantitative easing (QE) policy, although attention will be paid to the Bank’s minutes, published in two weeks, which may hint at future plans for QE.
The last QE measures saw £75bn injected into the economy in October 2011.
The UK’s economy for the last three months of 2011 was estimated to have grown by 0.1% by the National Institute of Economic and Social Research, enough to avoid a recession for the time being, but still 3.6% below its pre-recession peak.
But there was potentially better news in December suggesting conditions in the economy had improved in December as the service sector saw quicker growth and the contraction of the manufacturing sector slowed from November.
Skipton Business Finance strives to continually make our processes and systems better, meaning that our clients have full confidence in the way in which we are going forwards. This means that the invoice finance solutions we provide, such as factoring and invoice discounting, are set up on a system that we feel is the most proficient in the industry.