7 Feb 2014

Bank of England holds interest rate

7:36 am on 7 February 2014

The Bank of England on Thursday again held its main interest rate at 0.5 percent, where it has now stood for nearly five years.

Monetary Policy Committee members decided also to maintain at STG375 billion the quantitative easing cash stimulus that boosts bank lending and economic activity, the Bank said in a statement.

Governor Mark Carney has stated the Bank of England will not raise borrowing costs until Britain's unemployment rate falls to at least 7.0 percent.

The European Central Bank also held its key interest rates steady on Thursday at 0.25 percent.