The Bank of England's Monetary Policy Committee voted to leave the official Bank Rate paid on commercial bank reserves unchanged at 0.5%. The Committee also voted to expand the quantity of asset purchase program, financed by the issuance of central bank reserves, by £75 billion to a total of £275 billion, where this is the first increase since November 2009.

This unexpected movement from the Bank of England's MPC came as the Committee judged that it was necessary to inject further stimulus to support the sluggish pace of growth and to revive recovery, especially when the Bank expects inflation to undershoot the 2.0% target over medium term.

The minutes of the meeting will be published at 8:30 GMT on Wednesday October 19, 2011.