Thursday, the Bank of England retained its key interest rate at a record low as expected.

At the end of two-day rate setting meeting, the Monetary Policy Committee of the Bank of England decided to hold the interest rate at 0.5%. The interest rate now stands at the lowest level since the central bank was established in 1694.

The MPC also decided to continue with the programme, announced on 5 March, of asset purchases totaling GBP 75 billion financed by the issuance of central bank reserves.

The central bank said it would take a further two months to complete the asset purchase programme. The Committee noted that since its previous meeting a total of just over GBP 26 billion of asset purchases had been made.

The central bank is set to release the minutes of the meeting on April 22.

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