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Bank of England maintains benchmark interest rate at 0.50%

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Forex Pros - The Bank of England kept its benchmark interest rate unchanged for the 24th consecutive month in March, it announced on Thursday.

The bank 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 in March.

The minutes of the meeting of the bank's monetary policy committee will be published on Wednesday, March 23.

Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.28% to hit 1.6157.

Meanwhile, European stock markets were broadly lower. The FTSE 100 tumbled 1.15%, the EURO STOXX 50 dropped 0.81%, France's CAC 40 slumped 0.64%, while Germany's DAX was down 0.83%.

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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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