BoE Maintains Easing Measures, Benchmark Rate Amid Expanded Authority
Tweet
Share
E-mail
The Bank of England is maintaining its quantitative easing process today at £375 billion, which was largely anticipated by economists, Bloomberg noted.
The Bank's nine-member Monetary Policy Committee (MPC) also kept its benchmark interest rate at 0.5 percent, a level its been at since March 2009.
MPC Governor Mervyn King has pushed for a £25 billion increase to easing twice before, meaning the third time might not actually be the charm in this case. This was the first meeting since Chancellor of the Exchequer George Osborne expanded the capability of the MPC, broadening its ability to ease policy.
Minutes from today's meeting will be published on April 17th.
Today's announcement follows an earlier move by the Bank of Japan to implement a more-aggressive bond-buying policy. As reported, the BoJ plans about ¥7 trillion of purchases per month versus ¥5.2 trillion expected by economists.
U.S. stock futures are in the green Thursday morning.
The Bank's nine-member Monetary Policy Committee (MPC) also kept its benchmark interest rate at 0.5 percent, a level its been at since March 2009.
MPC Governor Mervyn King has pushed for a £25 billion increase to easing twice before, meaning the third time might not actually be the charm in this case. This was the first meeting since Chancellor of the Exchequer George Osborne expanded the capability of the MPC, broadening its ability to ease policy.
Minutes from today's meeting will be published on April 17th.
Today's announcement follows an earlier move by the Bank of Japan to implement a more-aggressive bond-buying policy. As reported, the BoJ plans about ¥7 trillion of purchases per month versus ¥5.2 trillion expected by economists.
U.S. stock futures are in the green Thursday morning.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Inflation modest, but firms' profit margins hurt by struggles to pass on costs:Fed
- Meta releases early versions of its Llama 3 AI model
- Tesla lets go of 300 temporary workers in Germany as layoffs continue
Create E-mail Alert Related Categories
Forex, General NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
