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Base rate held by MPC

by Kevin Rose
9 July 2009
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As widely predicted, the Bank of England Monetary Policy Committee (MPC) has kept the bank base rate at 0.5%.

The base rate has been at this historic low since March of this year.

The MPC also voted to continue with its programme of asset purchases totalling £125 billion financed by the issuance of central bank reserves.

The MPCexpects that the announced programme will take another month to complete.

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