Bank of England holds interest rate at 0.5%

London (AFP) –

Advertising

The Bank of England has kept its main interest rate at a record-low 0.50 percent, it announced Thursday, despite widespread market expectations of a cut in response to Brexit.

The BoE also maintained the amount of cash stimulus pumping around the economy at £375 billion ($497 billion, 448 billion euros), it said in a statement following its first monetary policy meeting since Britain voted to exit the European Union.