David Miles says the February MPC decision to hold the stock of asset purchases at £200bn allows the impact of these purchases on the UK economy to continue. It was a decision to maintain an extraordinarily expansionary monetary policy. Depending on how things evolve in the economy, the stock of purchases may be added to; and at some point in the future it will be reduced. It remains to be seen whether the current policy stance - reflected in the stock of purchases and level of Bank Rate - will still look appropriate as we move through 2010.
Published on
25 February 2010
Press release