Bank of England maintains rates unchanged

The Bank of England has kept its key lending rate unchanged at 0.5%.

The Bank’s Monetary Policy Committee also voted to maintain its asset purchase programme, worth £275bn.

This programme is expected to take until early February 2012 to complete, with the scale of the programme “kept under review”.

The last change to the Bank’s rates announced by the MPC was a 0.5% cut to 0.5% on 5 March 2009.

The asset purchase programme was initiated on that same date, with an initial size of £75bn, later increased to £275bn on 6 October 2011.

 

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