United Kingdom Monetary Policy

United Kingdom

United Kingdom: BoE stance unchanged in January

January 23, 2013

At its 9-10 January monetary policy 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 Facility (APF) - also known as quantitative easing (QE) - at a total of GBP 375 billion.

According to the minutes, the result of the Monetary Policy Committee's (MPC) voting mirrored the one seen in the previous meeting. All nine members were in favour of maintaining the Bank Rate at 0.50%, while eight members were in favour of maintaining the APF at its present size. Only one member voted for an increase of the APF by a further GBP 25 billion. The next meeting is scheduled for 6-7 February 2013.


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United Kingdom Monetary Policy Chart

United Kingdom Monetary Policy December 2012

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

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