Thursday, June 5, 2014
Meanwhile ECB President is expected to cut rates and introduce measures to head off deflation
UK interest rates have been held at the record low of 0.5% for another month by the Bank of England. The size of the Bank's bond-buying economic stimulus programme was also kept unchanged at Ã‚Â£375bn. The decision was widely expected, despite continued signs of strength in the UK economy. Last month, the Bank of England reiterated it was in no rush to raise rates, with governor Mark Carney saying they may remain low "for some time". However, Mr Carney added the economy had "edged closer" to the point where interest rates would need to rise.