United Kingdom: Bank of England maintains asset purchase programme and holds rates
November 10, 2011
At its 9-10 November monetary policy meeting, the Bank of England (BoE) left the Bank rate unchanged at 0.50% and maintained the size of its asset purchase programme (quantitative easing) at GBP 275 billion. The decision was broadly anticipated by the market. According to the minutes released on 23 November, all nine members of the Monetary Policy Committee (MPC) voted to keep rates on hold at 0.50%, as in the previous meeting held in October. In addition, the Committee also unanimously voted to maintain the asset purchase programme at GBP 275 billion. The next MPC meeting will be held on 7-8 December.