News Headline Summary

BoE MPC voted 6-3 to keep QE unchanged and 9-0 to keep interest rates unchanged at 0.50%

Says:
- MPC considered cutting bank rate, buying other assets and changing remuneration of banks' reserves but existing drawbacks remained.
- More targeted interventions may be more effective.
- Sees slow, sustained UK recovery and headwinds remain.
- May need measures to boost credit from non-bank lenders.
- King, Miles and Fisher voted for QE.

Reaction details:

- Within 3 minutes of the release, GBP/USD fell from 1.5431 to 1.5347 and Mar-Gilt futures rallied from 115.13 to 116.47.

Print 09:30, 20 Feb 2013 - BoE - Source: Newswires