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Bank of England keeps interest rates at record low

January 07, 2010 | The Associated Press

LONDON (AP) -- The Bank of England has left interest rates at a record low of 0.5 percent and has made no change in its 200 billion pounds ($320 billion) monetary stimulus program.

Thursday's announcement was in line with market expectations.

Analysts believe the Bank's Monetary Policy Committee will stand pat at least until next month and wait for clearer evidence on the state of the economy.

Recent signs that Britain emerged from recession in the fourth quarter have yet to be confirmed by official data, and reports have shown that consumers are continuing to pay off debt rather than borrowing to keep spending.

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