Bank of England policymakers unanimously decided to retain quantitative easing at GBP 375 billion and the interest rate unchanged at 0.50 percent, the minutes of the meeting held on August 1 and 2 showed Wednesday.
The nine-member Monetary Policy Committee discussed whether it was appropriate to expand or continue with the programme of asset purchases it had agreed at its previous meeting.
"All members agreed that it was appropriate at this meeting to continue with the asset purchase programme announced at its previous meeting," the minutes showed.
For most members, the decision was relatively straightforward. Over the coming months, the MPC could take stock of the impact of the Funding for Lending scheme and the implications this had for other potential policy options. For some members, the decision was nevertheless more finely balanced.
by RTT Staff Writer
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