On Thursday, the Bank of England’s Monetary Policy Committee voted to continue with its program of purchases of government and corporate debt financed by the issuance of central bank reserves, and maintained the size of the program at £200 billion. The Committee took that action, and also agreed to maintain the Bank Rate paid on commercial bank reserves at 0.5%, in light of its latest Inflation Report projections and in order to “keep inflation on track to meet the 2% inflation target over the medium term.” The Committee’s decision to maintain the size of the program follows the program’s November 2009 increase from £175 billion to £200 billion. The Committee noted that the asset purchases, together with the low Bank Rate, would continue to “impart a substantial monetary stimulus to the economy for some time to come.”