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, known as quantitative easing, totalling £175 billion financed by the issuance of central bank reserves.

The Committee expects the announced programme to take another month to complete, the scale of which will be kept under review.

Commenting on today’s decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“Though we are not surprised by the MPC’s decision to keep Bank Rate at 0.5%, we are … Continue Reading