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
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback