Investing.com - The Bank of England kept its benchmark interest rate unchanged in July and announced no change to its asset purchase facility program, it said on Thursday.
The BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely expected move. The 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, July 16.
Following the announcement, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.27% to trade at 1.7111.
Meanwhile, European stock markets remained lower. London’s FTSE 100 slumped 0.9%, the DJ Euro Stoxx 50 tumbled 1.9%, France’s CAC 40 dropped 1.7%, while Germany's DAX lost 1.6%.