The Bank of England has published the minutes of the Monetary Policy Committee Meeting held on 8 and 9 April 2015. The Committee voted unanimously in favour of the propositions that the Bank’s base rate should be maintained at 0.5% and the Bank’s programme of quantitative easing should be maintained at £375bn. Two of the nine Committee members regarded this month’s decision as ‘finely balanced’.
The Committee agreed that it is 'more likely than not' that the Bank’s base rate would rise over the next three years but there was a range of views over the most likely future path of the base rate. The Committee said that “the actual path [the Bank’s base rate] would follow over the next few years was uncertain, and would depend on economic circumstances”.