Bank of England building
New Bank of England governor Mark Carney has concluded his first monetary policy meeting by holding interest rates at 0.5 per cent and asset purchases at £375bn.
The meeting of the Monetary Policy Committee on 3-4 July was the first major session for the new Governor.
Mr Carney began the position on 1 July for a five-year term, taking over from Sir Mervyn King.
Interest rates have been held at 0.5 per cent since March 2009 while the last addition to the asset purchase programme was in July 2012.
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Members David Miles and Paul Fisher have been voting for an increase of £25bn to £400bn for the past few months but have been outvoted by remaining members.
Economists have forecast that Mr Carney could look to increase asset purchases in the future, possibly adding up to £75bn by the end of the year.
Further details of the decision, including Mr Carney's vote, will be given in the minutes which will be published on 17 July. The next meeting of the committee will be held on 7-8 August.
