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Bank of England Maintains Bank Rate at 0.5%

Bank of England Maintains Bank Rate at 0.5% and the Size of the Asset Purchase Programme at £200 Billion

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 previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009. A programme of asset purchases financed by the issuance of central bank reserves was initiated on 5 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 5 November 2009.

Information on the Asset Purchase Facility can be found on the Bank of England website.

09 September 2010

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