Finance

Bank of England holds rates steady and maintains bond buying levels

0


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…



Source cnbc.com

CVS sees big business opportunities with Covid-19 tests, flu shots

Previous article

China’s economic growth indicators are ‘lopsided,’ analyst says

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Finance