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Bank of England holds benchmark interest rate at 0.50%

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Forexpros - The Bank of England kept its benchmark interest rate unchanged for the 29th consecutive month in August, it announced on Thursday.

The BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely expected move.

The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at GBP200 billion.

The minutes of the meeting of the bank's monetary policy committee will be published on Wednesday, August 17.

Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.5% to trade at 1.6345.

Meanwhile, European stock markets were broadly lower. The FTSE 100 sank 1%, the EURO STOXX 50 dipped 0.1%, France's CAC 40 fell 0.5%, while Germany's DAX declined 0.35%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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