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- Bank of England keeps its interest rate on hold at 0.5% in October
Bank of England keeps its interest rate on hold at 0.5% in October
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.
Bank of England (BoE) Governor Mark Carney said in September that it will become clearer "around the turn of this year" whether to start raising interest rates or not.
Financial markets suggest that the BoE will start to raise its interest rate by the end of next year or even early 2017.
The central bank expect the U.K. economy to expand 0.6% in the third quarter.
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