BOE keeps rate, asset purchase programme unchanged

    The Bank of England kept its key interest rate unchanged at 0.5 percent and the target for asset purchases at 325 billion pounds, despite a contraction of Britain's economy.

    The BOE's official interest rate that it pays on commercial bank deposits has been unchanged at 0.5 percent since March, 2009 when it also began a policy of quantitative easing. On February 9, 2012, the UK central bank increased the asset purchase programme by 50 billion pounds to 325 billion.

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