The Bank of England has cut UK interest rates to a new record low of 0.25%. This is the first change in interest rates since March 2009.
The Bank of England has also announced it will pump a further £70 billion into the UK economy. They plan to restart the quantitative easing (QE) programme and buy £60 billion of government bonds. This will increase quantitative easing to £435 billion.
The remaining £10 billion will be used to buy UK corporate bonds.
Farrell Financial Planning do not give advice on future interest rate movements. Farrell Financial Planning are independent financial advisers (IFAs) based in Glasgow, Scotland.
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All information is correct as at 04/08/16.