Bank of England holds rates steady and maintains bond buying levels


The Bank of England on Thursday held interest rates steady and maintained its existing level of asset purchases, but warned it is anticipating a slower economic recovery from the coronavirus crisis.

All members of the Monetary Policy Committee voted to keep the main lending rate at 0.1%, with the central bank having cut rates twice from 0.75% since the beginning of the pandemic.

The committee also voted unanimously against extending its bond-buying program, having announced an additional £100 billion ($131.4 billion) expansion in June which took the total value of the Asset Purchase Facility to £745 billion.

However, the central bank said it does not expect the U.K. economy to exceed…


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