Press Trust of India / London Sep 10, 2009, 22:11 IST
Bank of England (BoE) has left the key rate unchanged at 0.5 per cent and will continue with its asset purchase programme worth 175 billion pounds.
The apex bank's Monetary Policy Committee decided to maintain the "official Bank rate paid on commercial bank reserves at 0.5 per cent", a statement said today.
The bank in March this year reduced key rate to 0.5 per cent from 1 per cent.
BoE would also continue with its 175 billion pounds-worth asset purchase programme, primarily aimed at stabilising the nation's battered financial system.
The programme is expected to take another two months for completion.
The asset purchase programme was expanded to 175 billion pounds in August from 125 billion pounds in May.
The European economic major reeling under severe recession has been looking at various measures to bolster the country's economy.
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