AFP, London :
The Bank of England maintained its record-low interest rates and stimulus package Thursday, as policymakers balanced slowing domestic inflation and weaker growth, amid global economic uncertainty.
The central bank’s nine-member monetary policy committee opted at its regular monthly meeting to keep its key interest rate at 0.50 percent, where it has stood since March 2009 to bolster growth.
Shortly afterwards, the European Central Bank froze its key interest rate at an all-time low of 0.05 percent as it grapples with fresh economic woes in the eurozone.
The Bank of England (BoE) also decided to keep the level of cash stimulus, or quantitative easing, pumping around the recovering British economy at £375 billion ($602 billion, 474 billion euros).
In contrast, the US Federal Reserve last week ended its own multi-billion-dollar QE package, but the Bank of Japan unexpectedly ramped up its own asset-buying plan in a bid to jumpstart its economy.
The Bank of England maintained its record-low interest rates and stimulus package Thursday, as policymakers balanced slowing domestic inflation and weaker growth, amid global economic uncertainty.
The central bank’s nine-member monetary policy committee opted at its regular monthly meeting to keep its key interest rate at 0.50 percent, where it has stood since March 2009 to bolster growth.
Shortly afterwards, the European Central Bank froze its key interest rate at an all-time low of 0.05 percent as it grapples with fresh economic woes in the eurozone.
The Bank of England (BoE) also decided to keep the level of cash stimulus, or quantitative easing, pumping around the recovering British economy at £375 billion ($602 billion, 474 billion euros).
In contrast, the US Federal Reserve last week ended its own multi-billion-dollar QE package, but the Bank of Japan unexpectedly ramped up its own asset-buying plan in a bid to jumpstart its economy.
