Investing.com – The Bank of England on Monday kept its benchmark interest rate at a record low of 0.5%, amid heightened political uncertainty in the aftermath of Britain's general election last week.
The central bank's monetary policy committee also froze efforts to boost the money supply, known as quantitative easing, at GBP 200 billion.
The decision came amid after Britain's Conservative and Liberal Democrat parties said they were close to agreeing on a deal that would allow David Cameron to take power.
Following the interest rate decision, the pound was up against the U.S. dollar, with GBP/USD surging 1.42% to reach 1.5014.
The central bank's monetary policy committee also froze efforts to boost the money supply, known as quantitative easing, at GBP 200 billion.
The decision came amid after Britain's Conservative and Liberal Democrat parties said they were close to agreeing on a deal that would allow David Cameron to take power.
Following the interest rate decision, the pound was up against the U.S. dollar, with GBP/USD surging 1.42% to reach 1.5014.