BofE keeps rate steady

It would have been surprising, I suppose, if we got something different.  Following is the Bank’s full statement:

News Release
Bank of England Maintains Bank Rate at 0.5% and continues with £175 Billion Asset Purchase Programme
10 September 2009

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to continue with its programme of asset purchases totalling £175 billion financed by the issuance of central bank reserves.

The Committee expects the announced programme to take another two months to complete. The scale of the programme will be kept under review.

The minutes of the meeting will be published at 9.30am on Wednesday 23 September.

Link here. And a brief analysis from the Guardian.

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