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
EU demands solution to gas crisis EU demands solution to gas crisis
2
Bakken oil pipeline, Sandpiper, delayed Bakken oil pipeline, Sandpiper, delayed
3
All staff back in Iraq, Gulf Keystone Petroleum says All staff back in Iraq, Gulf Keystone Petroleum says
4
Raytheon to supply components for Israel's Iron Dome interceptor Raytheon to supply components for Israel's Iron Dome interceptor
5
Shale boom driving gas prices lower, AAA says Shale boom driving gas prices lower, AAA says
Trending News
x
Feedback