logo
Plus   Neg
Share
Email

Bank Of England Keeps Rate, Bond Purchases Unchanged

The Bank of England left its key interest rate and bond purchases unchanged on Thursday and said that the slowdown in economic growth continued at the start of this year.

The nine-member Monetary Policy Committee, led by Governor Mark Carney, held the bank rate unchanged at 0.75 percent in line with economists' expectations.

The previous change in the bank rate was a quarter-point hike in August and the rate is now at its highest level since 2009.

The stock of corporate bond purchases was kept at GBP 10 billion and that of government bond purchases at GBP 435 billion.

"UK economic growth slowed in late 2018 and appears to have weakened further in early 2019," the bank said.

"This slowdown mainly reflects softer activity abroad and the greater effects from Brexit uncertainties at home."

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT