Key Points
- Bank of England voted 9-0 to keep interest rate unchanged
- Voted 8-1 to keep stock of asset purchases unchanged, Haldane dissented
- To slow pace of asset purchases, not a change in monetary policy stance
- Does not intend to tighten policy until inflation target reached sustainably
- 2021 GDP growth forecast raised to 7.25% (previous forecast 5.00%)
Watch the monetary policy report press conference with Bank of England Governor Bailey using the link below: