facebook
twitter
rss
account
search
search
 

British central bank keeps policies unchanged

Aug. 1, 2013 at 10:21 AM   |   Comments

LONDON, Aug. 1 (UPI) -- The Bank of England said Thursday it would keep its current monetary policies intact.

The central bank, which explains its monetary policy decisions through meeting minutes released three weeks after the fact, said it would keep its overnight lending rate at 0.5 percent and continue with its $581.3 billion asset purchasing program.

The announcement was widely expected. The British economy is crawling out of a recession. In the first quarter, Britain's gross domestic product grew a nominal 0.3 percent. In the fourth quarter of 2012, the GDP shrank by 0.3 percent, data from the Office of National Statistics shows.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Lockheed Martin, Roketsan collaborate on F-35 cruise missile Lockheed Martin, Roketsan collaborate on F-35 cruise missile
2
GenDyn UK picks Lockheed Martin for vehicle turrets GenDyn UK picks Lockheed Martin for vehicle turrets
3
Thailand orders more aircraft from Airbus Helicopters Thailand orders more aircraft from Airbus Helicopters
4
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
5
Sandia National Labs develops zoom military rifle scope Sandia National Labs develops zoom military rifle scope
Trending News
Around the Web
x
Feedback