British central bank decides to hold interest rate at 0.5 percent

08:37, June 11, 2010      

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The Bank of England (BOE) decided Thursday to hold short-term interest rates at the record low of 0.5 percent and maintain the size of the Asset Purchase Programme at 200 billion pounds.

Britain's central bank 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 issuance of central bank reserves at 200 billion pounds.

The BOE decision comes at a time when the British economy is recovering slowly from a deep recession. The British government reported last month the economy grew 0.3 percent in the first quarter of this year over the previous quarter.

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

Source:Xinhua

(Editor:黄蓓蓓)

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