Today, the Bank of England’s Monetary Policy Committee voted to continue with its program of asset purchases (government and corporate debt) financed by the issuance of central bank reserves, and increased the size of the program from £125 billion to £175 billion. The Committee took the action 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 recent increase by the Committee follows the program's May 7 increase from £75 billion to £125 billion. The Committee noted that the increase in the scale of the program would "necessitate an increase in the range of maturities of government debt that the Bank was willing to purchase."