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Bank of England surprises markets by holding rates at record lows
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cnbc.comLONDON — The Bank of England held interest rates steady on Thursday, defying many investors' expectations that it would become the first major central bank to hike rates following the coronavirus pandemic.
The Bank's Monetary Policy Committee voted 7-2 to keep the Bank Rate unchanged at its historic low of 0.1%, and 6-3 in favor of continuing the existing program of U.K. government bond purchases at a target stock of £875 billion ($1.2 trillion). The MPC voted unanimously to maintain its £20 billion stock of corporate bond purchases, keeping the total asset purchase program at £895 billion.
Markets had been uncertain as to whether the Bank would set off on the path toward monetary policy normalization on Thursday or at its next meeting in
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