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MPC votes unanimously on base rate

MPC votes unanimously on base rate

Category: Economy

Updated: 17/04/2013
First Published: 17/04/2013

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 It is now over 6 months old so the content may be out of date.

All nine members of the Bank of England's Monetary Policy Committee (MPC) voted unanimously in favour of keeping bank base rate at its historic low earlier this month, minutes from the committee's meeting have revealed.

Despite the decision to keep the Government's quantitative easing (QE) amount at £375 billion, three members of the committee, including the Governor of the Bank of England, Mervyn King, voted in favour of increasing the Government's QE programme by a further £25 billion, repeating their sentiments from the MPC's meeting in March.

Interest rates have remained on hold at 0.50% since March 2009, when the Government announced it would be making its first injection of QE to kick-start the UK's ailing economy.

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