Bank of England leaves Key Rate at 0.5%

The Bank of England made no changes to monetary policy at its meeting on Monday, as expected, maintaining its lending rate at a record low of 0.5%.

The rate has been held at that level since March 2009. The bank’s quantitative-easing program was also left unchanged at 375 billion pounds (US$579.5 billion). Minutes from the meeting will be released on May 20. The pound GBPUSD, +0.1618% held steady around US$1.5484 after the rate decision. Late Friday, sterling traded at US$1.5375. The FTSE 100 index UKX, +0.17% was also little changed after Monday’s decision, rising 0.2% at 7,059.08.

Source: Market Watch