Bank of England holds key rate at 0.50%, QE unchanged at £375B

The Bank of England kept the benchmark interest rate on hold 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 anticipated move. The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.

Following the announcement, the pound was little changed close to four-and-a-half year highs against the broadly weaker dollar, with GBP/USD trading at 1.6785.

Meanwhile, European stock markets remained mixed to lower. London’s FTSE 100 was up 0.22%, the DJ Euro Stoxx 50 was down 0.20%, France’s CAC 40 dipped 0.02%, while Germany's DAX edged up 0.09%.