United Kingdom: Bank of England stays put waiting for QE purchases to be completed
October 17, 2012
At its 3-4 October meeting, the Bank of England (BoE) maintained its policy stance, leaving 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. Both decisions were in line with market expectations, as the QE expansion of GBP 50 billion announced by the Bank in July is expected to take another month to be completed. According to the minutes, the Monetary Policy Committee (MPC) voted unanimously in favour of both, leaving the Bank rate unchanged at 0.50% and maintaining the asset purchase programme at its current size.