By Max Clarke
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.
No new quantitive easing measures have been announced, though the BBC reported that one member of the 9 strong Monetary Policy Committee voted in favour of adding an extra £50bn.
The bank rate has remained at this lower figure since the Committee first announced the reduction in March 2009, in order to ensure inflation rates remained at their target of 2%.