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Bank of England sits tight on rates, stimulus

Bank of England sits tight on rates, stimulus

The Bank of England has held interest rates steady at a record low of 0.5 percent for the 20th consecutive month as the British economy shows signs of unexpected strength.
The British central bank also kept its 200 billion pound ($323 billion) asset-purchase program on hold in Thursday's announcement _ declining to follow the U.S. Federal Reserve in injecting more stimulus into the economy.
Economists say the case for monetary policy easing in Britain is nowhere near as strong as in the United States. Gross domestic product growth of 0.8 percent in the third quarter was double the expected improvement.
Still, many economists believe the bank may restart the so-called quantitative easing program to boost the money supply next year as harsh government spending cuts take effect.


Updated : 2021-07-25 15:41 GMT+08:00