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U.K. Leaves Interest Rates Unchanged, Ends Stimulus Program
The Bank of England has again extended the 0.5% lending rate it put in place more than five years ago.
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The Bank of England has again extended the 0.5% lending rate it put in place more than five years ago.
The bank also says it is ending the debt purchase program it launched three years ago, which has spent 375 billion (€476 billion) buying private debt products from other banks.
Analysts speculate the central bank could begin raising its index lending rate as soon as next month or perhaps not till mid-2015. The British economy is growing steadily, which makes an increase more likely. But inflation in the U.K. is below the bank's target of 2%, which eases pressure to control costs with higher interest rates.
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