Minutes of the Monetary Policy Committee Meeting held on 3 and 4 September 2013

The MPC at its meeting voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.

Published on 18 September 2013

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

Bank Rate should be maintained at 0.5%;
The Bank of England should maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.

Regarding Bank Rate, the Committee voted unanimously in favour of the proposition.

Regarding the stock of asset purchases, the Committee voted unanimously in favour of the proposition.

In the light of the Committee’s forward guidance, and as described in a market notice of 5 September 2013, the Committee agreed to reinvest the £1.9 billion of cash flows associated with the redemption of the September 2013 gilt held in the Asset Purchase Facility.

Minutes of the meeting