BOE voted 8-1 to keep asset purchases unchanged
LONDON (MarketWatch) — Only one member of the Bank of England’s Monetary Policy Committee wanted to make changes to the bank’s 375 billion pounds (3.66 billion) asset-purchase program, according to minutes from the latest meeting released on Wednesday. David Miles voted against the proposition to leave the program unchanged, preferring to boost the size by a further £25 billion to a total of £400 billion. Additionally, the nine members voted unanimously to keep the central bank’s key lending rate at a record low of 0.5%. “Market developments in the first week of January had been consistent with greater confidence that some of the major tail risks facing the global economy had been reduced,” the minutes from the January meeting said.
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