BoE Holds Key Interest Rate As Expected; Maintains GBP 125 Bln Asset Purchase Scheme

(RTTNews) - Thursday, the Bank of England retained its key interest rate and decided to continue with its asset purchase scheme totaling GBP 125 billion by utilizing central bank reserves.

At the end of the two-day rate setting meeting, the Monetary Policy Committee decided to hold the Bank Rate at 0.5% as expected. The rate now stands at the lowest since the central bank was established in 1694.

The MPC expects the asset purchase scheme to take another month to complete. The central bank said it will review the scale of the program again at its August meeting, alongside its latest inflation projections.

The central bank will publish the minutes of the meeting on July 22.

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