Investing.com – The Bank of England kept its benchmark interest rate unchanged for the 26th consecutive month in May, it announced on Thursday.
The bank 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 GBP200 billion.
The minutes of the meeting of the bank’s monetary policy committee will be published on Wednesday, May 18.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD edging 0.1% higher to hit 1.6504.
Meanwhile, European stock markets were broadly lower. The FTSE 100 dropped 0.8%, the EURO STOXX 50 tumbled 1.2%, France’s CAC 40 sank 1.15%, while Germany's DAX shed 0.8%.
The bank 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 GBP200 billion.
The minutes of the meeting of the bank’s monetary policy committee will be published on Wednesday, May 18.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD edging 0.1% higher to hit 1.6504.
Meanwhile, European stock markets were broadly lower. The FTSE 100 dropped 0.8%, the EURO STOXX 50 tumbled 1.2%, France’s CAC 40 sank 1.15%, while Germany's DAX shed 0.8%.