Bank of England maintains QE Quantitative Easing target . . . .

The Bank of England (BOE) maintained its target for asset purchases of 375 billion pounds and its bank rate at 0.5 percent, as widely expected.
     In a brief statement following a meeting of the BOE's monetary policy committee, the U.K. central bank also said it had agreed to reinvest 1.9 billion of cash flows associated with the redemption of the September 2013 gilt - the British name for a UK government bond.

    Last month the BOE introduced its so-called forward guidance under which it pledged to maintain the bank rate at 0.5 percent and not reduce its target for asset purchases - known as quantitative easing - at least until the UK unemployment rate declines to 7.0 percent.
    Since then, the BOE's new governor, Mark Carney, has stressed that the BOE may provide more monetary stimulus if financial markets get ahead of themselves and raise market rates as this could threaten the tepid recovery.
    The rise in market rates has come against a backdrop of improving economic data and a perception that the BOE may tolerate higher inflation under its new policy of forward guidance. The BOE targets inflation of 2.0 percent but projections that it would rise above 2.5 percent, or that inflation expectations become unhinged, would "knock out" the 7.0 percent unemployment threshold.

   The UK unemployment rate has been steady around 7.8 percent for the last 10 months but the number of new claims for unemployment has been falling for the last nine months.
    The UK Gross Domestic Product expanded by 0.7 percent in the second quarter from the first for annual growth of 1.5 percent, up from 0.3 percent in the first quarter.
    Despite the relative high unemployment rate, inflation in the UK has been sticky, only falling to 2.8 percent in July from 2.9 percent in June, largely steady in the last 10 months.
    The BOE has held its bank rate at 0.5 percent since March 2009 when it also introduced the asset purchase scheme, which has been expanded on several occasions, most recently by 50 billion pounds in July 2012.

Bank of England maintains QE target, bank rate - Central Bank News

for more details log on to Bank of England website : http://www.bankofengland.co.uk/Pages/home.aspx 

BOE Bank Of England maintains rate, asset purchases of 375 bin pounds . . .

The Bank of England (BOE) maintained its Bank Rate at 0.5 percent and the size of its asset purchases at 375 billion pounds, adding that it would release its latest inflation and output projections on August 7.
     The BOE, which has held its rate steady since March 2009, also said that its Monetary Policy Committee, as already announced, "will also respond to the UK Chancellor's request for its assessment of the use of thresholds and forward guidance at that time."
    
The decision to maintain rates and the size of its asset purchase program was widely expected following the release of the minutes from the MPC's July meeting in which it became clear that the size of the quantitative easing program would likely be maintained while the bank decides on the details of its forward guidance under its new governor, Mark Carney.
    Following Carney's first meeting in July, the BOE used a mild form for policy guidance, voicing concern over the recent rise in UK bond yields, saying this was weighing on its economic outlook and the implied rise in its bank rate was not warranted by economic developments.

    Bond yields in the UK and in most other countries rose in June following better UK economic data and in reaction to the Federal Reserve's planned tapering of its asset purchase program.
    Inflation in the United Kingdom rose to 2.9 percent in June from 2.7 percent in May, continuing to remain above the BOE's target of 2.0 percent.
    The UK economy strengthened in the second quarter with Gross Domestic Product up by 0.6 percent from the first quarter, for annual growth of 1.4 percent, up from 0.3 percent in the first

BOE maintains rate, asset purchases of 375 bin pounds - Central Bank News

for more details log on to Bank of England website : http://www.bankofengland.co.uk/Pages/home.aspx