Investing.com – The Bank of England kept its benchmark interest rate unchanged for the 35th consecutive month in February and announced a GBP50 billion increase to its asset purchase program, it said 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 said it was to increase the stock of asset purchases financed by the issuance of central bank reserves by GBP50 billion to GBP325 billion.
The minutes of the meeting of the central bank’s monetary policy committee will be published on Wednesday, February 22.
Following the announcement, the pound held on to modest gains against the U.S. dollar, with GBP/USD inching up 0.13% to trade at 1.5840.
Meanwhile, European stock markets remained higher. London’s FTSE 100 rose 0.35%, the EURO STOXX 50 gained 0.2%, France’s CAC 40 added 0.3%, while Germany's DAX advanced 0.5%.
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 said it was to increase the stock of asset purchases financed by the issuance of central bank reserves by GBP50 billion to GBP325 billion.
The minutes of the meeting of the central bank’s monetary policy committee will be published on Wednesday, February 22.
Following the announcement, the pound held on to modest gains against the U.S. dollar, with GBP/USD inching up 0.13% to trade at 1.5840.
Meanwhile, European stock markets remained higher. London’s FTSE 100 rose 0.35%, the EURO STOXX 50 gained 0.2%, France’s CAC 40 added 0.3%, while Germany's DAX advanced 0.5%.