9 April 2009

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to continue with the programme, announced on 5 March, of asset purchases totalling £75 billion financed by the issuance of central bank reserves.

The Committee noted that since its previous meeting a total of just over £26 billion of asset purchases had been made and that it would take a further two months to complete that programme.

The minutes of the meeting will be published at 9.30am on Wednesday 22 April.

The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009.

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