Bank of England Maintains Bank Rate at 0.5% and continues with £175 Billion Asset Purchase Programme
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to continue with its programme of asset purchases totalling £175 billion financed by the issuance of central bank reserves.
The Committee expects the announced programme to take another two months to complete. The scale of the programme will be kept under review.
The minutes of the meeting will be published at on Wednesday 23 September.
Note to Editors
The previous change in Bank Rate was a reduction of 0.5 percentage
points to 0.5% on
Information on the Asset Purchase Facility can be found on the Bank of England website at http://www.bankofengland.co.uk/monetarypolicy/assetpurchases.htm Purchases of almost £146 billion have been made under this facility since its use for monetary policy purposes was first announced after the Committee’s March meeting.