RTTNews - Wednesday, the minutes from the Bank of England showed that all nine members of the Monetary Policy Committee unanimously decided to retain the Bank Rate at a historic low of 0.5% and to continue with its quantitative easing steps totaling GBP 125 billion. The meeting was held on July 8 and 9.
The MPC noted that the central bank would purchase the assets to meet the current GBP 125 billion target at a slower rate over the next month than it had under the programme so far. Further, the purchases would continue up until the next MPC meeting in August.
The minutes said, The Committee would keep the scale of the programme under review, and the preparation of the August Inflation Report offered an opportunity to reassess the stock of asset purchases in the light of a fully updated assessment of the outlook for inflation and growth at its next meeting.
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