News Column

REPEAT: BoE Unanimous On Rates, QE

July 23, 2014

LONDON (Alliance News) - Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, minutes of the meeting showed Wednesday.

Members of the Monetary Policy Committee assessed that a premature tightening in monetary policy might leave the economy vulnerable to shocks, with the effectiveness of any further stimulus uncertain.

Members had no preset timing for the first increase in Bank Rate, which would be driven by the data, the minutes said.

"Against this backdrop, the Committee agreed that no increase was warranted at this meeting, although for some members the decision had become more balanced in the past few months than earlier in the year" it said.

At the July meeting, all nine members of MPC voted to keep the bank rate at a record low 0.50% and asset purchase programme at GBP375 billion.

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Source: Alliance News

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