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BANK BASE RATE

 

 

If the Bank of England sets a negative interest rate, it could encourage lending.

Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Program at 375 Billion

 

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 maintain the stock of asset purchases, financed by the issuance of central bank reserves at £375 Billion.

 

The minutes of the meeting will be published at 9.30am on Wednesday 19th June

 

Notice to Editors

 

The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5th March 2009. A programme of asset purchases financed financed by the issuance of central bank reserves was initiated on 5th March 2009.  The previous change in the size of the programme was an increase of £50 Billion to a total of £375 Billion on 5th July 2012.

 

Courtesy of the Bank of England news release

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