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- Bank of England keeps its interest rate on hold at 0.5% in April
Bank of England keeps its interest rate on hold at 0.5% in April
The Bank of England (BoE) released its interest rate decision on Thursday. The BoE kept its interest rates unchanged at 0.5% and its asset purchase program unchanged at £375 billion. This decision was widely expected.
Low inflation weighed on the BoE's interest rate decision. The U.K. consumer price index declined to zero in February from 0.3% in January. It was the lowest level since 1989.
Analysts expect that the BoE will start to raise its interest rate in early 2016.
Investors are awaiting the minutes of the monetary policy committee (MPC). The minutes of the meeting will be released on April 22.
All members voted in March to keep the central bank's monetary policy unchanged, according to MPC's meeting minutes.
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