By: Caterina Russo

Bank of England Maintains Bank Rate at 0.5% and continues with £175 Billion Asset Purchase Programme

10 September 2009

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.