United Kingdom Monetary Policy

United Kingdom

United Kingdom: Bank of England maintains asset purchase programme and holds rates

December 8, 2011

At its 7-8 December 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 21 December, all nine members of the Monetary Policy Committee (MPC) voted to keep rates on hold, as in the previous meeting held in November. In addition, the Committee also voted unanimously to maintain the asset purchase programme at GBP 275 billion. The next MPC meeting will be held on 11-12 January.


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