Monetary policy

Article ID: 60379f7197c520800faf9b41e22497ff418494d514b6a2c79bbca7bba29aca2f

Source ID: regulatory:bankofengland.co.uk

Published At: -

Extraction Method: trafilatura

URL: https://www.bankofengland.co.uk/monetary-policy

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What is monetary policy?
Monetary policy is action that a country's central bank or government can take to influence how much money is in the economy and how much it costs to borrow.
As the UK’s central bank, we use two main monetary policy tools. The primary tool we use is Bank Rate. This is the interest rate we pay on deposits placed with us overnight by eligible firms such as commercial banks.
Additionally, when required, we can buy bonds to bring down long-term interest rates on savings and loans through quantitative easing (QE).

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