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- Bank of England kept unchanged its interest rate and asset purchase program
Bank of England kept unchanged its interest rate and asset purchase program
The Bank of England kept unchanged its interest rate at 0.5%. The volume of the BoE's asset purchase program remained unchanged at £375 billion. This decision was expected by the analysts.
Markets participants are awaiting any hints on when the Bank of England could start to raise its interest rate. Some investors speculate that the BoE will hike its interest rate sooner than expected due to the strong economic data.
The UK gross domestic product rose 0.8% in the first quarter of the year. That was the fifth straight quarter of growth.
The unemployment rate in the UK declined to 6.6% in the three months to May.
But the inflation rate was at 1.5% in May, below the central bank's 2% inflation target.
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