United Kingdom: Bank of England stays put in its August meeting
August 23, 2012
At its 1-2 August meeting, the Bank of England (BoE) left the Bank Rate unchanged at 0.50% and the volume of its asset purchase programme - commonly referred to as quantitative easing (QE) - at a total of GBP 375 billion. The move was broadly expected, as the Bank had increased QE by a further GBP 50 billion in July, with the corresponding asset purchases expected to be completed in the next three months. According to the minutes, the Monetary Policy Committee (MPC) voted unanimously in favour of both leaving the Bank rate unchanged at 0.50% as well as of maintaining the asset purchase programme at its current size.