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Bank of England holds key rate at 0.5 pct

Bank of England holds key rate at 0.5 pct

The Bank of England has held its base interest rate at an all-time low of 0.5 percent and refrained from pumping more money into the economy despite growing concerns about sluggish growth.
The market must wait until Sept. 21, when the Bank's Monetary Policy Committee publishes minutes of its latest meeting, to see how many of the nine members voted for more stimulus.
The Bank's program of asset purchases, known as quantitative easing, paused in December 2009 after 200 billion pounds ($320 billion) had been spent.
Britain's economic output grew by only 0.2 percent in the second quarter, and the government has acknowledged that growth forecasts will be downgraded.


Updated : 2021-04-17 11:29 GMT+08:00