The Bank of England policymakers retained the size of quantitative easing and the record low interest rate unchanged as expected by economists. At the end of two-day rate setting meeting on Thursday, the Monetary Policy Committee voted to maintain the asset purchase programme at GBP 325 billion. The previous change in asset purchases was in February, when it was raised by GBP 50 billion.
At the April meeting, only Adam Posen sought more stimulus, while David Miles gave up his call for QE. The minutes of today's meeting is due on May 23. The panel led by Governor Mervyn King also decided to hold the key interest rate at 0.50 percent. The current rate is the lowest since the central bank was established in 1694.