BoE keeps interest rate at 0.50%

[LONDON] The Bank of England voted on Thursday to keep its main interest rate at a record-low level of 0.50 percent, with Britain experiencing low inflation and steady economic recovery.

The central bank's nine-strong monetary policy committee opted also to maintain the level of its cash stimulus, or quantitative easing, at US$608 billion, the BoE said in a statement issued following a regular monthly meeting.

"The Bank of England's Monetary Policy Committee at its meeting on 8 October voted to maintain Bank Rate at 0.5 per cent," the statement said.

Minutes of the meeting, containing reasons behind the decisions, will be published on Oct 22.- AFP