The Bank of England’s monetary policy committee voted to continue with its program of asset purchases totalling £125 billion ($202 billion) financed by the issuance of central bank reserves.
The committee also voted to maintain the official bank rate paid on commercial bank reserves at 0.5%.
It expects that the announced program will take another month to complete. The committee will review the scale of the program again at its August meeting, alongside its latest inflation projections.
The previous change in bank rate was a reduction of 0.5 percentage points to 0.5% on March 5. A £75 billion program of asset purchases financed by the issuance of central bank reserves was started on March 5 and the program was increased to a total of £125 billion on May 7.