Bank of England holds key interest rate at 0.5%

04 July 2013 12:07  [Source: ICIS news]

LONDON (ICIS)--The Bank of England (BoE) on Thursday left its key interest rate unchanged at 0.5% and maintained quantitative easing (QE) levels at £375bn (€441bn, $577bn), following recent upbeat UK economic data.

The 2008-2009 recession forced the BoE into a series of interest rate cuts, with rates falling from 5.5% in October 2008 to the current record low, which was set in March 2009.

(€1 = £0.85, $1 = £0.65)

By: Franco Capaldo
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