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Article posted: 12/6/2012 7:16 AM
Bank of England: no change in base rate, stimulus
The Bank of England has left its base interest rate unchanged and has not authorized any additional stimulus measures, a decision which was widely expected by the market.
Thursday’s announcement by the Monetary Policy Committee left the bank’s key rate at the all-time low of 0.5 percent, where it has been since March 2009.
The Bank’s program of so-called quantitative easing — purchases of government bonds and other high-quality debt to boost credit activity — remains at a total of 375 billion pounds ($604 billion).
Expectations of further stimulus measures this month evaporated after the U.K.’s gross domestic product rose by an unexpectedly strong 1 percent in the third quarter, ending a nine-month recession.
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