British central bank continues to keep interest rates at record-low

08:24, April 09, 2010      

Email | Print | Subscribe | Comments | Forum 

The Bank of England, Britain's central bank, decided Thursday to hold short-term interest rates at their record low and maintained the size of the Asset Purchase Programme at 200 billion pounds.

The Bank of England (BOE) said in a brief statement its Monetary Policy Committee voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent.

The Committee also voted to maintain the stock of asset purchases financed by the issue of central bank reserves at 200 billion pounds.

The decisions come at a time when the British economy is recovering slowly from a deep recession.

The British government reported late last month the economy increased by 0.4 percent in the fourth quarter of 2009 over the previous quarter, the first increase since the beginning of 2008. However, UK gross domestic product declined by 4.9 percent in the year.

The BOE cut its interest rates to 0.5 percent in March 2009 in an attempt to boost the recession-hit economy.

Source: Xinhua

(Editor:祁澍文)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based eastday.com reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion