Bank of England releases minutes of MPC meeting - Economy - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Bank of England releases minutes of MPC meeting

Bank of England releases minutes of MPC meeting

Category: Economy

Updated: 18/07/2012
First Published: 18/07/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Bank of England's Monetary Policy Committee (MPC) voted unanimously to keep bank base rate at its historical low of 0.50% during its meeting two weeks ago.

Whilst the committee agreed to keep interest rates on hold, it was divided as to whether to increase the government's stimulus package, also known as quantitative easing (QE). Minutes from the meeting have shown the committee was 7-2 in favour of buying an additional £50 billion worth of government bonds.

The Bank of England has to date injected a total of £375 billion into the economy in a bid to boost financial growth and encourage public spending.

The Monetary Policy Committee meets each month to decide whether the Bank's interest rate should fall, rise or remain on hold. The Committee consists of nine members, including the governor of the Bank of England, Sir Mervyn King.

Find the best bank account for you - compare bank accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Base rate remains unchanged in surprise decision

Earlier today, the Bank of England’s rate setting committee announced that it had voted decisively to keep base rate on hold at its record low of 0.5%. But what does it mean for you?

Budget 2016 – an overview

Well, George Osborne has just revealed the Budget for 2016 – his eighth so far as Chancellor – and as ever, there were some winners and losers from the whole thing. Below is a quick overview of the key points.

What does a US Fed rise mean for the UK?

The US Federal Reserve has decided to raise interest rates, and although you may not think that financial events happening in the US will have much of an impact on UK soil, you may be surprised…