MPC judged that the existing stance of monetary policy remains appropriate.

The MPC voted unanimously to maintain Bank Rate at 0.1%.  

The Committee voted unanimously for the Bank of England to continue with its existing programme of UK government bond purchases, financed by the issuance of central bank reserves, maintaining the target for the stock of these government bond purchases at £875 billion and so the total target stock of asset purchases at £895 billion.

Outlook for the economy remains unusually uncertain

If inflation outlook weakens, BOE stands ready to take necessary action

BOE does not intend to tighten policy unless there is clear evidence of progress in achieving inflation goal sustainably

Recent plans for the easing of restrictions may be consistent with a slightly stronger outlook for consumption growth in Q2 2021

Developments in global GDP growth have been a little stronger than anticipated

Aggregate measure of UK financial conditions has been broadly unchanged since the February report