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Bank of England leaves rates, asset program alone

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[March 04, 2010]  LONDON (AP) -- The Bank of England is keeping interest rates at a record low of 0.5 percent and taking no further action on purchasing assets to boost the money supply this month.

HardwareThursday's announcement from the central bank marks the 12th consecutive month it has kept interest rates unchanged.

The decision from the Monetary Policy Committee had been widely anticipated after a month of mixed signals on the economy as Britain makes its hesitant way out of its worst recession in decades.

Statistics out last month showed that the economy is growing again slightly faster than thought after officially exiting recession at the end of last year -- but they also revealed that the extent of the 18-month downturn was deeper than previously forecast.

[Associated Press]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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