United Kingdom Monetary Policy

United Kingdom

United Kingdom: Bank of England maintains asset purchase programme and holds rates

January 12, 2012

At its 11-12 January monetary policy meeting, the Bank of England (BoE) voted to leave the Bank rate unchanged at 0.50% and to continue its asset purchase programme (quantitative easing) totalling GBP 275 billion. The decision was anticipated by market analysts. As in the previous meetings, the decision was unanimous, with all nine members of the Monetary Policy Committee (MPC) voting to keep the current stance. However, according to the minutes released on 25 January, some members believe ?that a further expansion of asset purchases was likely to be required?, amid deteriorating economic conditions. The next MPC meeting will be held on 8-9 February.


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