BoE keeps QE at GBP 375 bln, key rate at 0.50%
2013-04-04 14:43:14
The Bank of England maintained its quantitative easing at GBP 375 billion and also its record low interest rate on Thursday.
The nine-member Monetary Policy Committee 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 panel also decided to leave the key interest rate unchanged at 0.50 percent. The current rate is the lowest since the central bank was established in 1694.
The minutes of the meeting, to be published on April 17, will reveal the voting pattern.
BoE Governor Mervyn King together with Paul Fisher and David Miles have made unsuccessful attempts over the last few months to lift stimulus by GBP 25 billion. Other policymakers rejected their call citing the impact of further easing on the pound and risks to inflation.