Bank of England Keeps Lending Rate Unchanged

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By Trey Thoelcke Published
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The Bank of England announced on Thursday that its key lending rate would remain unchanged, and it made no changes to its planned asset purchases.

The bank’s Monetary Policy Committee left the so-called bank rate at a record low 0.5%, where it has stood since March 2009. Furthermore, the bank remains on track to bring total asset purchases, the key part of its quantitative-easing strategy, to 375 billion pounds ($583 billion).

This followed on the decision Wednesday by U.S. Federal Reserve’s Federal Open Market Committee to “closely monitor” economic data and financial developments. That disappointed investors hoping for a more definitive sign of additional monetary easing.

So the focus turns to Thursday’s policy announcement from the European Central Bank. Investors are looking for ECB President Mario Draghi to act on his recent pledge to take concrete steps to preserve the euro. Many economists expect the ECB to resume government bond purchases, despite objections by Germany’s Bundesbank.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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