United Kingdom Monetary Policy

United Kingdom

United Kingdom: BoE maintains stance after 6-3 vote against further QE

February 20, 2013

At its 6-7 February monetary policy meeting, the Bank of England (BoE) left the Bank Rate unchanged at 0.50% and maintained the holdings of the Asset Purchase Facility (APF) at a total of GBP 375 billion.

According to the minutes of the meeting, all nine members of the Monetary Policy Committee's (MPC) voted in favour of maintaining the Bank Rate at 0.50%. Moreover, a majority of six members voted in favour of maintaining the APF at its current size, outvoting Governor Mervyn King and other two MPC members who wanted the size of the APF to be increased by GBP 25 billion to a total of GBP 400 billion.


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United Kingdom Monetary Policy Chart

United Kingdom Monetary Policy February 2013

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

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