Bank of England says holds record low interest rate

June 5, 2014
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Bank of England says holds record low interest rate/AFP
Bank of England says holds record low interest rate/AFP

, LONDON, June – The Bank of England said on Thursday it had voted to keep its key lending rate at a record low level of 0.50 percent.

The British central bank also decided to maintain the level of cash stimulus in the economy at £375 billion ($628 billion, 461 billion euros).

” The Bank of England’s Monetary Policy Committee at its meeting today voted to maintain bank rate at 0.5 percent,” said a brief statement.

“The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.”

The decision came before an eagerly awaited decision from the European Central Bank, which is widely expected to announce cuts to eurozone interest rates, to avert the threat of deflation.

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