Bank of England Holds Rates at 0.5%

The Bank of England, as expected, held interest rates steady at a record low of 0.5%.
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LONDON (

TheStreet

) -- The Bank of England, as expected, held interest rates steady at a record low of 0.5%.

The BOE also left on hold its asset purchasing program of 200 billion pounds.

The BOE has kept rates at 0.5% for the 13th straight month.

Stocks in London were trading lower by about 1% Thursday.

The European Central Bank is expected later this morning to announces its decision on interest rates; the ECB is expected to keep its key lending rate at 1%.

-- Reported by Joseph Woelfel in New York.

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