According to expectations, the Bank of England’s Monetary Council did not carry out another rate increase this year’s second benchmark meeting. At the same time, the board shared its wisdom: two of the nine members of the council voted to raise the base rate.
In November last year, the British central bank raised its interest rate for the first time after 10 years, raising 0.25 percentage points to the current 0.50 percent rate.
According to a statement issued on March, the Bank of England’s Monetary Council decided to leave the framework for incentive-based asset purchasing programs unanimously.
In August 2016, the British central bank, together with the reduction in interest rates, added £ 435 billion to the quantitative easing government bond purchase framework of the $ 375 billion pegged out of the year and issued a ten billion-strong asset purchase program for corporate investment bonds.