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Financial News: Bank Of England Leaves Policy Unchanged

Bank Of England Leaves Policy Unchanged

03/18/2021 - 08:09:00 (RTTNews)

(RTTNews) - Bank of England policymakers unanimously decided to keep its benchmark rate and quantitative easing unchanged on Thursday.

The nine-member Monetary Policy Committee, headed by Governor Andrew Bailey, voted to hold the interest rate at 0.10 percent and the quantitative easing at GBP 895 billion in the latest policy meeting.

All members of the MPC judged that the existing stance of monetary policy remained appropriate.

The committee said it did not intend to tighten monetary policy at least until there was clear evidence that significant progress was being made in eliminating spare capacity and achieving the 2 percent inflation target sustainably.

If the outlook for inflation weakened, the committee stood ready to take whatever additional action was necessary to achieve its remit, the bank said.

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