| British central bank maintains interest rate at 0.5 pct |
| Last Updated(Beijing Time):2012-01-12 23:54 |
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Britain will maintain its bank interest rate at a record low of 0.5 percent, the Bank of England announced Thursday.
Interest rates have been kept at 0.5 percent since March 2009, when the central bank of Britain decided to reduce the official bank rate paid on commercial bank reserves.
The Bank of England's monetary policy committee also voted to continue with its program of asset purchases totaling 275 billion pounds (421 billion U.S. dollars) financed by the issuance of central bank reserves.
The interest rate decision comes as no surprise as concerns over the economy, weak consumer spending and the eurozone crisis persist. |
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