Bank of England leaves rates unchanged

Bank of England leaves key interest rate and monetary stimulus program unchanged

Associated Press

LONDON (AP) -- The Bank of England has left its base interest rate and its monetary stimulus program unchanged, as widely anticipated by analysts.

The central bank's Monetary Policy Committee left the key rate at 0.5 percent, where it has been since March 2009, at its monthly policy meeting on Thursday.

The Bank of England's stimulus program, called quantitative easing, was also not increased from its current 375 billion pounds ($604 billion). The program involves purchases of government bonds from banks to increase the amount of money in the economy and favor an increase in lending.

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