The Bank of England base rate remains at 0.5%, and has increased the size of the asset purchase program by £50 billion to £125 billion. The Bank of England’s monetary policy committee voted to maintain the official bank rate paid on commercial bank reserves at 0.5%. The Bank of England reported that the world’s economy remains in deep recession. Output continues to decline and international trade has fallen. Whilst GDP dropped in the first quarter of 2009, home and abroad surveys show promising signs that the decline has begun to moderate.
CPS Homes are pleased to keep investors and landlords up to date with news that affects property investments.