BoE Maintains Easing Measures, Benchmark Rate Amid Expanded Authority

April 4, 2013 7:26 AM EDT Send to a Friend
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.


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