Base rate decision unanimous

The decision to freeze the base rate of interest at the all time low level of 0.5% was made unanimously, minutes from the Monetary Policy Committee's (MPC) last meeting have revealed. Minutes from the meeting have also show the decision for the Bank of England to continue with its £175 million quantitative easing programme was agreed on by all members of the committee. The MPC said developments in September had been generally positive on a domestic and international basis. "Mortgage arrears had risen only slightly in the second quarter (of the year) and there were tentative signs that commercial property values, collateral for a significant proportion of loans, had begun to stabilise," it said.
 
 
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