British central bank continues to keep interest rate at record low

08:47, May 11, 2010      

Email | Print | Subscribe | Comments | Forum 

The Bank of England (BOE) decided on Monday that it has held the short-term interest rates at the record low of 0.5 percent and maintained the size of the Asset Purchase Programme at 200 billion pounds.

The Bank of England, the central bank of Britain, said in a brief statement that 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 issuance of central bank reserves at 200 billion pounds.

The BOE decided to keep the short-term interest rates at a record-low level at the time when the British economy is recovering from a deep recession slowly. The British government reported last month that the economy increased by 0.2 percent in the first quarter of this year over the previous quarter.

The Bank of England cut its interest rates to a historical-low of 0.5 percent in March of 2009 in an attempt to boost the recession-hit economy and has kept the rates at this level since then.

Source:Xinhua

(Editor:黄蓓蓓)

  • 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