Bank of England keeps lending rate low

LONDON, June 9 (UPI) -- The Bank of England said Thursday it will keep its bank-to-bank lending rate intact and continue with its program to purchase $322 billion in securities.

The bank left its commercial bank reserves rate at 0.5 percent, an historic low set to increase liquidity in the market following the 2008 financial meltdown.

Minutes of the British bank's decision-making meetings are released three weeks after policy decisions are announced.

Lately, there has been some expectation the bank would raise rates to combat rising inflation. The central bank, however, kept to the low rate it established in March 2009.