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Monetary Policy Committee to maintain quantitative easing

The Bank of England’s Monetary Policy Committee has voted to plough on with current policy, and keep its interest rate 0.5%.

The Committee also voted to keep the programme of quantitative easing at £375m.

Anna Leach, CBI Head of Economic Analysis, said: “With the latest extension of QE launched only last month, there was no great expectation for any new announcements from the MPC today.

“The Funding for Lending Scheme is now up and running, which, alongside the current round of asset purchases, should provide some support to businesses.

“However, the outlook for the UK economy remains fragile, particularly in light of the disappointing official data for the first half of the year and the recent slowdown in global momentum.”

This was posted in Bdaily's Members' News section by Tom Keighley .