Bank of England keeps key rate at 0.5 per cent, stimulus program on hold as economy recovers

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LONDON – Bank of England policymakers have kept interest rates steady and declined to pump more money into Britain’s economy amid signals of recovery.

The Monetary Policy Committee kept the benchmark interest rate at a record low 0.5 per cent and voted to not increase the monetary stimulus program. The bank has pumped 375 billion pounds ($600 billion) into the economy since January 2009 through its bond-buying program.

The decision announced Thursday was widely expected.

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