United Kingdom Monetary Policy

United Kingdom

United Kingdom: Bank of England maintains current stance

May 29, 2012

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


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United Kingdom Monetary Policy Chart

United Kingdom Monetary Policy May 2012

Note: Bank rate in %.
Source: Bank of England (BoE).

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