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.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
U.S. Air Force orders more RQ-4 Global Hawks U.S. Air Force orders more RQ-4 Global Hawks
2
Talon rocket in full-rate production for UAE Talon rocket in full-rate production for UAE
3
Hotel chain suspending sponsorship of Minnesota Vikings Hotel chain suspending sponsorship of Minnesota Vikings
4
EU, Kiev, Moscow gas talks suspended EU, Kiev, Moscow gas talks suspended
5
Students hurt in high school lab fire Students hurt in high school lab fire
Trending News
Video
x
Feedback