Bank of England's Bank Rate set to stay at 0.5%

10 November 2011

Today the Bank of England’s Monetary Committee took a vote on whether or not to keep the Bank’s Rate paid on commercial reserves. The outcome was to maintain the existing Bank Rate of 0.5%.

The last time the Bank Rate was changed was by 0.5% back in March 2009.

The Committee also voted to purchase £275 billion worth of assets, including housing, using central bank reserves, as announced on their website www.bankofEngland.co.uk. This budget was increased by £75 billion on 6 October 2011.

Minutes of the Monetary Committee’s meeting will be published 23 November.

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