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Bank of England holds key rate at 0.50%, QE unchanged at £375B

Published 03/05/2015, 07:00 AM
Updated 03/05/2015, 07:00 AM
Bank of England keeps key rate unchanged at 0.50%

Investing.com - The Bank of England kept its benchmark interest rate unchanged in March and announced no change to its asset purchase facility program, it said on Thursday.

The BoE said it was holding the benchmark interest rate at 0.50%, in a widely expected move. The central bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.

The minutes of the meeting of the central bank’s monetary policy committee will be published on Wednesday, March 18.

Minutes from the central bank's February policy meeting showed that the Monetary Policy Committee voted unanimously to keep rates on hold and its quantitative-easing program unchanged.

GBP/USD was trading at 1.5239 from around 1.5242 ahead of the announcement, while EUR/GBP was at 0.7250 from 0.7248 earlier.

Meanwhile, European stock markets were broadly higher. London’s FTSE 100 rose 0.4%, the EURO STOXX 50 tacked on 0.7%, France's CAC 40 advanced 0.8%, while Germany's DAX climbed 0.65%.

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