Business News
Bank of England holds fire on interest rates and stimulus measures
Nov 4, 2010, 13:17 GMT
London - The Bank of England on Thursday kept interest rates on hold at the historical low of 0.5 per cent and also resisted further moves for fresh monetary stimulus.
The decisions were announced after a two-day meeting of the central bank's Monetary Policy Committee (MPC), taken just a day after the United States Federal Reserve announced major stimulatory measures.
But following better-than-expected economic growth figures in Britain of 0.8 per cent for the third quarter, the MPC ruled to keep interest rates at 0.5 per cent for the 20th consecutive month.
It also decided not to extend the programme of Quantitative Easing beyond the current level of 200 billion pounds (323 billion dollars).
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