Investing.com – The Bank of England kept its benchmark interest rate unchanged for the 34th consecutive month in January, it announced on Thursday.
The BoE’s nine-member Monetary Policy Committee said it was maintaining the benchmark interest rate at a record-low 0.50%, where it’s stood since March 2009, in a widely expected move.
The bank also kept the stock of asset purchases financed by the issuance of central bank reserves at GBP275 billion.
The minutes of the meeting of the central bank’s monetary policy committee will be published on Wednesday, January 25.
Following the announcement, the pound held on to modest gains against the U.S. dollar, with GBP/USD inching up 0.16% to trade at 1.5355.
Meanwhile, European stock markets remained higher. The FTSE 100 rose 0.4%, the EURO STOXX 50 jumped 1.55%, France’s CAC 40 gained 1.25%, while Germany's DAX rallied 1.4%.
The BoE’s nine-member Monetary Policy Committee said it was maintaining the benchmark interest rate at a record-low 0.50%, where it’s stood since March 2009, in a widely expected move.
The bank also kept the stock of asset purchases financed by the issuance of central bank reserves at GBP275 billion.
The minutes of the meeting of the central bank’s monetary policy committee will be published on Wednesday, January 25.
Following the announcement, the pound held on to modest gains against the U.S. dollar, with GBP/USD inching up 0.16% to trade at 1.5355.
Meanwhile, European stock markets remained higher. The FTSE 100 rose 0.4%, the EURO STOXX 50 jumped 1.55%, France’s CAC 40 gained 1.25%, while Germany's DAX rallied 1.4%.