U.K. central bank affirms current rates, stimulus package

06/6/2013 | BBC

The Bank of England is standing pat on interest rates and quantitative easing as it awaits the arrival of its new governor. "The evidence of a budding recovery continued to build over the last month. So the [Monetary Policy Committee's] decision to hold off from further monetary stimulus was broadly expected," said Stephen Gifford, director of economics at the CBI, the U.K.'s top business lobbying organization.

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