Bank of England leaves main interest rate at record-low 0.5%, keeps £75B stimulus program unchanged
November 10, 2011
– Bank of England rate-setters have left their main interest rate and economic stimulus program unchanged.
The decisions Wednesday to keep the main interest rate at the record low of 0.5 percent and the current round of quantitative easing, or asset purchase program, unchanged at 75 billion pounds ($119 billion) had been expected.
It's the 33rd consecutive month that the base rate has been left unchanged.
Responding to concerns about lagging economic growth, the Bank last month revived the stimulus program which pumped 200 billion pounds into the economy between March 2009 and January 2010.
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