At its 7-8 March meeting, the Bank of England (BoE) decided to leave the Bank rate unchanged at 0.50% and to continue with its asset purchase programme (quantitative easing) totalling GBP 325 billion. The decision was anticipated by market analysts following a further GBP 50 billion increase in the size of the asset purchase programme in its previous meeting. According to the minutes released on 21 March, the Committee judged that the recent data had evolved in line with its expectations and that there had been little change to the balance of risks to UK activity and inflation. Consequently, all nine members of the MPC voted in favour of leaving the Bank rate unchanged at 0.50%, while seven voted to maintain the asset purchase programme at its current size. The remaining two MPC members voted in favour of increasing the size of the asset purchase programme by a further GBP 25 billion to GBP 350 billion, which was in line with their position stated in the previous meeting.
United Kingdom Monetary Policy
Bank of England maintains current stance
March 21, 2012
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United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.