MONETARY Policy Committee members plan to review the case for cutting UK base rates even further, from the record low of 0.5% at which they have stood since March 2009, when the effects of the new "Funding for Lending Scheme" become clearer.
This plan to reconsider the position is revealed in minutes of the Bank of England committee's July 4 and 5 meeting. The minutes highlight members' views that such a review is "unlikely to be for several months".
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