The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.0%.

The Committee’s latest inflation and output projections will appear in the Inflation Report to be published on Wednesday 11 February.

The minutes of the meeting will be published at 9.30am on Wednesday 18 February.

The previous change in Bank Rate was a reduction of 0.5 percentage points to 1.5% on 8 January 2009.

Read the full report: http://www.bankofengland.co.uk/publications/news/2009/008.htm

The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.25%.

Against that background, the Committee judged that a reduction in Bank Rate of 0.25 percentage points to 5.25% was necessary to meet the 2% target for CPI inflation in the medium term.

The minutes of the meeting will be published at 9.30am on Wednesday 20th February.

The previous change in Bank Rate was a reduction of 0.25 percentage points to 5.5% on 6 December 2007.