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 6 February 2019, the MPC voted unanimously to maintain Bank Rate at 0.75%. 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 ... (full story)

The Bank of England (BOE) held its benchmark interest rates steady on Thursday, with just 50 days to go before the U.K. leaves the European Union. As widely expected, the BOE's nine-member Monetary Policy Committee (MPC), led by Mark Carney, unanimously voted to leave interest rates unchanged at 0.75 percent. The U.K. is expected to leave the bloc at 11:00 p.m. London time on March 29. Prime Minister Theresa May is in Brussels to press EU leaders for legally binding changes to the Brexit deal. The thorny subject of the Irish "backstop" — something of an insurance policy designed to prevent a hard border between ... (full story)