Bank of England keeps Bank Rate at 0.5%

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 maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion.

The Committee's latest inflation and output projections will appear in the Inflation Report to be published at 10.30am on Wednesday 10th November.

The minutes of the meeting will be published at 9.30am on Wednesday 17th November.

The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5th March 2009. A programme of asset purchases financed by the issuance of central bank reserves was initiated on 5th March 2009. The most recent change in the size of that programme was an increase of £25 billion to a total of £200 billion on 5th November 2009.

www.bankofengland.co.uk