Bank of England voted unanimously to maintain the key rate

Wednesday, 21 October, the Bank of England published the minutes of the meeting held on October 7-8, at which the Committee on monetary policy has kept the rate of compulsory reserves of commercial banks at 0.50%. The decision was taken unanimously. At the same meeting it was decided to continue the program to acquire the assets of the private sector by the central bank reserves amounting to 175 billion pounds.
Based on the evaluation of the program to buy assets on the financial markets, the Committee of the Bank of England expects that this program in conjunction with other factors, including timely reduction of the key rate, government intervention to stabilize the banking system, the restoration of the world economy and increased confidence, has led to significant improvements. Regarding the development of world and national economies, in general, there is a positive trend.
In the short run, inflation is volatile. Nevertheless, the medium-term inflation forecast, which is crucial for the determination of monetary policy, is not subject to the influence of these short-term events … This is supported by research and market indicators “