BoE keeps policy rate and pace of QT unchanged
Policy-makers back “gradual approach” to lowering interest rates
The UK’s central bank kept its key interest rate unchanged at 5% today (September 19) as policy-makers supported a gradual approach to loosening monetary policy.
The Bank of England (BoE) has also completed its annual review of quantitative tightening (QT). Members of the monetary policy committee (MPC) agreed to keep the pace of balance sheet reduction fixed at £100 billion ($133 billion) over the next year. This implies a reduction in active sales as a large portion of bonds will mature.
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