Bank of England keeps short-term interest rate unc

jiajia101

The Bank of England (BOE) announced on Thursday that it has held the short-term interest rates at the record low of 0.5 percent for the 20th consecutive month and maintained the size of the Asset Purchase Programme at 200 billion pounds.
The Bank of England,Tiffany, the central bank of Britain, said in a brief statement that its Monetary Policy Committee voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent.
The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 200 billion pounds.
The BOE decided to keep the short-term interest rates at a record-low level at the time when the British economy is recovering from a deep recession which ended in the last quarter of last year. The British the economy increased by 0.3 percent in the first quarter of this year over the previous quarter but the economic gain in the second quarter reached 1.2 percent,nfl jerseys, the fastest pace since 2006.
The Bank of England cut its interest rates to a historical low of 0.5 percent in March of 2009 in an attempt to boost the recession-hit economy and has kept the rates at this level since then.