Under that framework, bond purchases are reviewed in terms of: their effectiveness; the decisions of other central banks; and, most importantly, the progress towards our goals for inflation and employment.
We are seeking to provide as much guidance about future bond purchases as we reasonably can in an uncertain world, while retaining the flexibility to respond in a timely way to changes in the state of the economy and the outlook. So we will be reviewing the size of our bond purchases again at our November meeting.