Bank of England holds rates at 0.5%

The Bank of England on Monday held its key lending rate at a record low 0.50
percent, in line with market expectations, amid domestic political
uncertainty and eurozone financial troubles. Skip related content

“The BoE’s monetary policy committee today voted to maintain the official
bank rate paid on commercial bank reserves at 0.50 percent,” the central
bank said in a brief statement.

Economists had expected the BoE to adopt a “wait and see” approach due to
rapidly-moving events at home and abroad, and as it seeks to cement
Britain’s fragile economic
recovery.

This month’s interest rate call was delayed by last week’s general election,
which has left Britain with a hung parliament and no outright winner.

The BoE added Monday that it had decided not to alter its so-called
quantitative easing policy, under which it had pumped