S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Banking, finance, and taxes

Bank Of England (BOE) Keeps Interest Rates At 5%

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Following the lead of the Federal Reserve, the Bank of England kept interest rates low at .5%. It is certainly a sign that the BOE believes that the U.K. is nowhere near an economic recovery. As a matter of fact, the BOE may be worried that the global economy has slowed, that that the effects of this could spread to the U.K. where government austerity measures have likely constrained GDP improvement

In its statement, the BOE said:

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%.  The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Jon C. Ogg |

ECB and BOE Both Leave Interest Rates Static, Risk of More Recession

ThinkstockThe European Central Bank (ECB) and the Bank of England (BOE) have both voted to leave their key short-term rates…
Jon C. Ogg |

European Central Bank and Bank of England Deliver Duds

ThinkstockThere has been talk in Europe that Mario Draghi might have make more noise about vigilant policy to prevent weakness…
Jon C. Ogg |

Bank of England Keeps Stimulus and Quantitative Easing Alive

ThinkstockThe Bank of England’s Monetary Policy Committee voted on Thursday to maintain the current economic stimulus plans. This is its…
Jon C. Ogg |

ECB and UK Maintain Low Rates, Late Word on Quantitative Easing (Updated)

With deflation in the air in Europe, some form of additional easing measures might have been hoped for.
Janet Yellen and Fed Keep Rates Flat, Hint at Future Hike Chances
Jon C. Ogg |

Janet Yellen and Fed Keep Rates Flat, Hint at Future Hike Chances

The Federal Reserve’s Federal Open Market Committee (FOMC) has decided to leave interest rates unchanged at its two-day June meeting.…
Paul Ausick |

FOMC Ends Asset Buying, Continues Near-Zero Interest Rate

The Federal Open Market Committee (FOMC) on Wednesday afternoon voted to end its monthly asset purchases -- aka QE3 --…
Paul Ausick |

FOMC: Quantitative Easing as Far as the Eye Can See!

courtesy U.S. Federal ReserveSaying that the Federal Open Market Committee (FOMC) it sees improvement in U.S. economic activity and in…
Jon C. Ogg |

More Fed Talk for Normalization of Fed on Interest Rates

ThinkstockJames Bullard, the president of the Federal Reserve Bank of St. Louis, was again outlining the case for higher interest…
Paul Ausick |

Cleveland Fed President Recommends Current Course

Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, said today that it is her belief that the Fed’s…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618