BOE keeps lending and purchasing policies

April 4, 2013 at 11:19 AM

LONDON, April 4 (UPI) -- The Bank of England said Thursday that it would keep its overnight lending rate at 0.5 percent.

The central bank also said it would keep its asset purchasing program unchanged.

The central bank doesn't explain its decisions until policy meeting minutes are released in three weeks.

It was widely expected the BOE would leave both policies intact. The bank has held its lending rate at a record low of 0.5 percent since March 2009. An asset purchasing program was announced in the same month and that was extended by $80.5 billion to $604 billion in July 2012.

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