- Main bank rate 0.50%
- QE total £375bn
- No addtional statement as per usual
Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Programme at £375 billion
07 August 2014
The Bank of England’s Monetary Policy Committee at its meeting today voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.
The Committee’s latest economic projections will appear in the forthcoming Inflation Report to be published at 10.30 a.m. on Wednesday 13 August.
The minutes of the meeting will be published at 9.30 a.m. on Wednesday 20 August.
Notes to Editors
The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009. A programme 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 programme was an increase of £50 billion to a total of £375 billion on 5 July 2012.
Information on the Asset Purchase Facility can be found on the Bank of England website athttp://www.bankofengland.co.uk/monetarypolicy/Pages/qe/default.aspx.
The Bank will continue to offer to purchase high-quality private sector assets on behalf of the Treasury, financed by the issue of Treasury bills, in line with the arrangements announced on 29 January 2009 and 29 November 2011.
GBP/USD tumbles on god know what to 1.6845 from 1.6860
