Bank of England keeps key interest rate at 0.5% - - a 315-year low; Increases size of Asset Purchase Programme by £50 billion to £125 billion
May 7th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Bank of England’s interest rate setting Monetary Policy Committee today voted to maintain the central bank's key interest rate at 0.5% - - a 315-year low. The Committee also voted to continue with its programme of asset purchases - - known as quantitative easing - -financed by the issuance of central bank reserves and to increase its size by £50 billion to a total of £125 billion.