Bank of England maintains Bank Rate at 0.5%

Bank of England

Source:bankofengland.co.uk – bank of england rate The Bank of England's Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%.

Bank of England : The Committee also voted to continue with its programme of asset purchases totalling £175 billion financed by the issuance of central bank reserves.

Bank of England : The Committee expects the announced programme to take another two months to complete. The scale of the programme will be kept under review.

The minutes of the meeting will be published at 9.30am on Wednesday 23 September. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009. A £75 billion programme of asset purchases financed by the issuance of central bank reserves was initiated on 5 March 2009. The programme was increased to a total of £125 billion on 7 May 2009 and to a total of £175 billion on 6 August 2009. Information on the Asset Purchase Facility can be found on the Bank of England website at http://www.bankofengland.co.uk/monetarypolicy/assetpurchases.htm Purchases of almost £146 billion have been made under this facility since its use for monetary policy purposes was first announced after the Committee's March meeting.


Bitcoin: 1BJbBAvdNHcZPZBnaFpyExUmAD9H1crosU


Litecoin:LXfkhyMe8gxdENyUc7Y5itHzFqr67F96nW

Or…

If you enjoyed this article FEEL Free to TIP My First Home Blog:


Any Amount Welcome 🙂


Dash: XmARRjJ9y2zUUgiPWPMrjviWWCvpuogwKd


Dogecoin: D5vAJ9ydfsNX1VE6e93Wh16gmUfVSUSKQq


Bitcoin: 1BJbBAvdNHcZPZBnaFpyExUmAD9H1crosU


Bitcoin Cash: 1Q8njMG4LPqFYthtNu6rq2Rbq9JqKXaPg1


Ethereum: 0x60454606e1f66C09e4fD7977b844718b683B2836

{ 0 comments… add one }

Connect with Facebook

Leave a Comment


x

Related Posts

Paint Your Basement Walls
Basement Walls: Painting your basement walls can do more than just improve the look of your basement; it can protect your home from moisture dama...
Question: Will Bank of England Stop UK Mortgage Market Meltdown?
 UK Mortgage Market Meltdown - A revival in mortgage demand thanks mostly to the Bank of England's record-low base rate has been one of the wider...
Applying for a mortgage? Find out your credit rating
Applying for a mortgage - If you are looking into finance options for purchasing your first home, one of the first things that you should do is t...
powered by RelatedPosts