Saturday July 4, 2020

Bank of England holds rates steady as recovery gains traction

The Bank of England (BOE) left its benchmark interest rate and bond-buying plan unchanged today as Britain’s economic recovery showed signs of building momentum.

10th October, 2013
Bank of England governor Mark Carney.

The Bank of England (BOE) left its benchmark interest rate and bond-buying plan unchanged today as Britain’s economic recovery showed signs of building momentum.

The nine-member Monetary Policy Committee (MPC) led by BOE governor Mark Carney kept the key interest rate at a record-low 0.5 per cent and its bond-buying program on hold at £375 billion. The BOE introduced forward guidance in August, saying it will keep borrowing costs on hold until late 2016.

The...

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