Bank of England holds rates low to help recovery
LONDON (AP) a¿¿ The Bank of England has decided to keep its key interest rate at a record low in hopes of strengthening the economic recovery.
Policymakers decided Thursday to leave the benchmark interest rate at 0.5 percent. The decision had been widely expected, as members of the Monetary Policy Committee have been appearing in local media to indicate that interest rates would not rise soon.
Mark Carney, the Bank of England's governor, has said so as well, even though he has moved past the policy of forward guidance, which had promised to keep rates low until unemployment dropped significantly.
After the jobless rate fell faster than expected, Carney broadened the forward guidance policy to include other economic indicators like wage growth and productivity.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV