The Bank of England says it will maintain the Bank Rate at 0.5% and will sustain the size of the Asset Purchase Programme at £375 billion.
Meeting Thursday the Bank of England’s Monetary Policy Committee voted to maintain the 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 Bank’s latest economic projections will appear in a forthcoming Inflation Report to be published on Wednesday 13 August.
The last time the Bank changed the Bank Rate was a reduction of 0.5 percentage points to 0.5% in March 2009.
Also, the current programme of asset purchases financed by the issuance of central bank reserves was started on 5 March 2009. The programme had an increase of £50 billion to a total value of £375 billion on 5 July 2012.©LandlordZONE® – legal content applies primarily to England and is not a definitive statement of the law, always seek professional advice.