This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bank Of England Keeps Interest Rates Steady

LONDON (AP) â¿¿ The Bank of England has kept its benchmark interest rate at a record-low 0.5 percent as new Governor Mark Carney presses ahead with a pledge to keep monetary policy loose until the U.K. economy improves.

The decision was widely expected, as Carney has said the bank would refrain from raising rates until unemployment fell from the current 7.8 percent to 7 percent. The bank estimates that this could take about three years â¿¿ but with the economy showing signs of life in recent weeks, economists have suggested the policy could end sooner than planned.

In a speech this month, Carney said the bank's task now is to secure the fledgling recovery and offer a chance to develop into a period of sustained and robust growth.

The bank's Monetary Policy Committee also voted not to put more money into the British economy.

The bank has pumped 375 billion pounds into the economy since January 2009 through its bond-buying program.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs