Bank of England Increased Bank Rate by 0.25% to 0.50%
London | 2nd November 2017
On 2nd November 2017, Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase Bank Rate by 0.25 percentage points, to 0.5%.
” Bank of England Increased Bank Rate by 0.25% to 0.5%, Target 2% Inflation “
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.
The monetary policy is set to meet the 2% inflation target, and in a way that helps to sustain growth and employment.
Official Press Release by Bank of England
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