BOE keeps rate
Source: Agencies |
June 8, 2012, Friday
|
Print Edition
Print Edition
THE Bank of England kept its base interest rate at the all-time low of 0.5 percent yesterday and chose not to approve any additional monetary stimulus, despite worries over Britain's sluggish economy.
With the UK economy officially in recession after two quarters of shrinking gross domestic product, some analysts had suggested that the BOE may have been tempted to approve additional stimulus.
The announcement from the BOE's Monetary Policy Committee means the country's stimulus program of asset purchases remains at 325 billion pounds (US$524 billion).
With the UK economy officially in recession after two quarters of shrinking gross domestic product, some analysts had suggested that the BOE may have been tempted to approve additional stimulus.
The announcement from the BOE's Monetary Policy Committee means the country's stimulus program of asset purchases remains at 325 billion pounds (US$524 billion).
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