The Monetary Policy Committee kept the benchmark interest rate at a record low 0.5 percent and voted to not increase the monetary stimulus program. The bank has pumped 375 billion pounds ($600 billion) into the economy since January 2009 through its bond-buying program.
The decision announced Thursday was widely expected. Governor Mark Carney has said the bank would refrain from raising rates until unemployment falls from the current 7.8 percent to 7 percent. The bank estimates that this could take about three years
-- but economists have suggested the policy could end sooner than planned if the economy continues to show signs of revival.
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