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BOE keeps monetary policy intact

Jan. 10, 2013 at 11:10 AM

LONDON, Jan. 10 (UPI) -- The Bank of England said Thursday that it would keep its overnight lending rate and its asset purchasing program intact.

The central bank said its lending rate would remain at 0.5 percent and it would continue with its $604 billion target for asset purchases.

The BOE dropped its lending rate to the historic low of 0.5 percent in March 2009. The asset purchasing program was first announced in the same month and extended by $80.5 billion in July 2012.

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