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BoE keeps interest rate at 0.5 pct, to continue £200 bln asset buy programme

The Bank of England’s Monetary Policy Committee at its January meeting voted to maintain the interbank lending rate at the 0.5 percent level it was cut to in March 2009.

The MPC also voted to continue with the programme of asset purchases totalling £200 billion financed by the issuance of central bank reserves.  The MPC expects the announced programme to take another month to complete. The scale of the programme will be kept under review.

The asset purchase programme was increased by 25 billion on November 5.

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