The Bank of England kept its benchmark interest rate unchanged in January and announced no change to its asset purchase facility program, it said on Thursday.
The BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely expected move. The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at GBP375 billion.
The minutes of the meeting of the central bank’s monetary policy committee will be published on Wednesday, January 22.
Following the announcement, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.05% to trade at 1.6457.
Meanwhile, European stock markets remained higher. London’s FTSE 100 inched up 0.2%, the EURO STOXX 50 rose 0.75%, France’s CAC 40 advanced 0.2%, while Germany''s DAX tacked on 0.4%.