Bank Rate Maintained At 0.1% - June 2020

18th June 2020

The Monetary Policy committee of the Bank of England voted unanimously to maintain Bank Rate at 0.1% and to continue with the existing programme of £200 billion of UK government bond and sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves.

The Committee voted by a majority of 8-1 to increase the target stock of purchased UK government bonds, financed by the issuance of central bank reserves, by an additional £100 billion, to take the total stock of asset purchases to £745 billion. This is generally known as Quantitative Easing.