BOE Leaves Rates Unchanged, Expands QE by £150 Billion

The Bank of England’s (BOE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its November policy meeting, as the second nationwide lockdown kicks-in this Thursday.

The BOE expanded the Quantitative Easing (QE) program by £150 billion to £895 billion.

Sees UK GDP -11% in 2020 (August projection: -9.5%).
Sees UK GDP 7.25 in 2021 (August projection: +9%).
Sees UK GDP 6.25% in 2022 (August projection: +3.5%).
Sees UK GDP 1.75% in 2023.
Sees UK GDP -11% in 2020 (August projection: -9.5%).
Sees UK GDP 7.25 in 2021 (August projection: +9%).
Sees UK GDP 6.25% in 2022 (August projection: +3.5%).
Sees UK GDP 1.75% in 2023.