Minutes of the Monetary Policy Committee Meeting held on 6 and 7 May 2009

The MPC at its meeting voted to maintain Bank Rate at 0.5%. The Committee also voted to increase the stock of purchased assets financed by the issuance of central bank reserves by £50 billion to £125 billion.
Published on 20 May 2009

The Governor invited the Committee to vote on the proposition that:

  • Bank Rate should be maintained at 0.5%;
  • The Bank of England should finance a further £50 billion of asset purchases by the creation of central bank reserves, implying a total quantity of £125 billion of such asset purchases. The Bank should seek to complete the £125 billion of purchases within the next three months.

The Committee voted unanimously in favour of the proposition. 

PDF Minutes of the meeting 

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