Bank of England Interest Rates Held GBP25bn Quantitative Easing
Published / Last Updated on 04/11/2009
Bank of England Interest Rates Held, £25bn Quantitative Easing
by Ashley Clark, Director
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5% for the seventh consecutive month.
The Committee also voted to continue with its programme of Quantitative Easing with asset purchases financed by the issuance of central bank reserves and to increase its size by £25 billion to £200 billion.
In short, pumping more into the economy and we suggest with a huge inflation biteback to follow in a few years.
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