BoE holds fire on rates and quantitative easing

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The Bank of England today announced it would maintain the bank rate at 0.5% and freeze the asset purchase programme at its current level.

In a widely anticipated move, the central bank revealed the Monetary Policy Committee (MPC) had voted to keep the benchmark interest rate for commercial bank reserves at its historically low rate and to maintain the stock of asset purchases financed by the issuance of central bank reserves at £325 billion ($525 billion).

Ian McCafferty, chief economic adviser

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