Business News
Bank of England leaves interest rates at record low
May 5, 2011, 11:16 GMT
London - The Bank of England (BoE) Thursday left interest rates unchanged at their record low level of 0.5 per cent, the bank reported.
The decision means that key rates have remained at an historic low since March 2010.
There had been speculation earlier in the year that rates could be raised in May. But the bank's Monetary Policy Committee (MPC) is now not expected to decide on a rate hike until August, or probably even later in the year.
As inflation hovers around 4 per cent, recent estimated growth figures of 0.5 per cent for the first quarter of 2011 signalled a slow economic recovery, analysts said.
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