At its 9-10 May meeting, the Bank of England (BoE) maintained both the Bank rate at 0.50% and the asset purchase programme (quantitative easing) at a total of GBP 325 billion. Both decisions mirrored the ones taken at the previous meeting and were widely expected by the market. According to the Bank's minutes, all nine members of the Monetary Policy Committee (MPC) voted in favour of leaving the Bank rate unchanged at 0.50%, while eight voted to maintain the asset purchase programme at its current size. The result also mirrored the one attained in the previous meeting. The MPC expects inflation to drop slightly below 3.5% over the course of the year, but to
United Kingdom Monetary Policy
Bank of England maintains current stance
May 29, 2012
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United Kingdom Monetary Policy Chart
Note: Bank rate in %.
Source: Bank of England (BoE).
United Kingdom Economic News
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.
September 30, 2016
In September, home prices in the United Kingdom rose 0.3% over the previous month, which was below the 0.6% increase seen in August that had marked the highest reading in five months, according to the Nationwide Building Society (NBS).
United Kingdom: BoE keeps the Bank Rate unchanged in September and signals more policy easing later this year
September 15, 2016
At its meeting on 15 September, the Monetary Policy Committee (MPC) of the Bank of England (BoE) voted unanimously to keep the Bank Rate unchanged at 0.25%.