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07.08.2013 13:29

Bank of England kept its interest rate unchanged

The Bank of England released its interest rate decision today. The BoE's interest rate remained unchanged at 0.50% and asset purchase facility program at £375 billion. This decision was widely expected.

Britain's central bank released no statement. Investors will have to wait for the release of MPC votes on August, 20 to know if any MPC members voted in favour of hiking interest rate.

Market participant expect the BoE will raise its interest rate at the end of this year or in the early months in 2015.

Britain's economy is doing well this year. The economy expanded by an annualized 3.2% in the second quarter. The unemployment rate dropped to 6.5% in May. Annual inflation was 1.9% (BoE's target: 2%). But wage growth is very slow. Wages increased 0.7% in the three months to May.

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