The Bank of England’s Monetary Policy Committee has released the voting decisions and Minutes of the meeting which ended on 01 November 2017.
The Minutes reveal that the Committee voted 7-2 to increase the Bank Rate to 0.50% per annum (from 0.25% per annum). Two members (Jon Cunliffe and Dave Ramsden) voted against the proposition preferring to maintain the Bank Rate at 0.25% per annum.
The MPC voted unanimously to;
1) continue with the programme of sterling non-financial investment-grade corporate bonds purchases totalling up to £10 billion, financed by the issuance of central bank reserves; and
2) continue with the programme of £60 billion of UK government bond purchases to take the total stock of these purchases to £435 billion, financed by the issuance of central bank reserves.
To see a copy of the Minutes, please click on the following link: