BoE retains QE at GBP 375 bln, rates unchanged
2012-10-04 15:14:00
The Bank of England maintained the size of quantitative easing at GBP 375 billion and the record low interest rate unchanged as expected by economists.
At the end of two-day rate setting meeting on Thursday, the Monetary Policy Committee led by Governor Mervyn King voted to retain the asset purchase programme at GBP 375 billion. The previous change in asset purchases was in July, when it was raised by GBP 50 billion.
The MPC expects the announced programme of asset purchases to take another month to complete. It said the scale of the programme will be kept under review.
The panel also decided to hold the key interest rate at 0.50 percent. The current rate is the lowest since the central bank was established in 1694.