Bank of England Leaves Benchmark Rate at 0.5%
The bank, which sets monetary policy for the United Kingdom, hasn't changed its benchmark rate since March 2009. It has maintained its asset purchase program at £200 billion ($303 billion) since November.
"I don't think rates will rise for a long time," Grant Lewis, an economist at Daiwa Capital Europe Ltd. and a former U.K. Treasury official, told Bloomberg News before the announcement before the announcement.
The bank buys "high-quality private sector assets" financed by the issue of Treasury bills.