The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 20 June 2018, the MPC voted by a majority of 6-3 to maintain Bank Rate at 0.5%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee also voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435 billion. In ... (full story)

The Bank of England (BOE) has kept its main interest rate unchanged Thursday amid uncertainty over the economy's wider direction. The central bank's Monetary Policy Committee (MPC) was widely expected to hold rates at their current 0.5 percent level, amid falling inflation and lackluster growth data. Policymakers on the committee postponed raising rates in May following weaker-than-expected economic data. The bank also said it expected the U.K. economy to grow by 1.4 percent in 2018, downgrading its previous projection of 1.8 percent. Against such a lackluster economic backdrop, no economists polled by Reuters ... (full story)