Minutes of the Monetary Policy Committee Meeting held on 4 and 5 March 2009 | Bank of England
Central bank: boe | Type: decision | Date: 2009-03-01

Minutes of the Monetary Policy Committee Meeting held on 4 and 5 March 2009
Minutes of the Monetary Policy Committee Meeting held on 4 and 5 March 2009
The MPC at its meeting voted to cut Bank Rate to 0.5%. The Committee also voted to finance £75 billion of asset purchases by the creation of central bank reserves.
Published on
18 March 2009
The Governor invited the Committee to vote on the proposition that Bank Rate should be reduced by 50 basis points to 0.5%.
The Committee voted unanimously in favour of the proposition.
The Governor invited the Committee to vote on the proposition that:
Purchases of private sector assets under the Asset Purchase Facility should now be financed using central bank reserves rather than Treasury Bills.
The Committee voted unanimously in favour of the proposition.
Minutes of the meeting