BoE Maintains Key Rate at 0.5%, Asset Purchases at GBP375B

The Bank of England’s Monetary Policy Committee voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.

The Committee reached its decisions in the context of the monetary policy guidance announced alongside the publication of the August 2013 Inflation Report.

The minutes of the meeting will be published at 9.30 a.m. on Wednesday 18 December.

NOTE: The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5 percent on 5 March 2009. A program of asset purchases financed by the issuance of central bank reserves was initiated on 5 March 2009. The previous change in the size of that program was an increase of £50 billion to a total of £375 billion on 5 July 2012.

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