Key Points
- Bank of England votes 8-0 to keep Bank Rate unchanged at 0.1%
- Bank of England votes 7-1 to maintain asset purchases; Saunders dissents
- Saunders preferred lowering target for stock of assets to £830 billion
- To begin to reduce stock of purchased assets by ceasing to reinvest maturing assets when Bank Rate has risen to 0.5%
- Sees CPI at 4.0% in 2021 (Prev. saw 2.50%); inflation expected to come back near 2% objective in the medium term
- Monetary Policy Summary and Minutes here
- Monetary Policy Report here
Watch the press conference with Bank of England Governor Bailey below