BOE leave rates at record low
10 September 2009
The Bank of England left interest rates at a record low of 0.5 percent for the sixth month running and stuck with its programme of asset purchases by as much as 175 billion pounds to steer the economy towards recovery. Whilst the result was widely expected, some had noted at last month’s minutes King had sought 200 billion pounds in asset purchases in a minority vote backed by David Miles and Timothy Besley. In June 2007, when King last dissented from the majority because he wanted an interest rate increase, the panel supported it at the next month’s decision.