Bank of England leaves policies intact

The Bank of England said Thursday that it would keep its monetary policies intact, as it has since July 2012. The central bank, which explains its policy decisions with meeting minutes released in three weeks, said it would keep its bank-to-bank lending rate at 0.5 percent. The bank also said it would leave its $598 billion asset purchasing program intact. Both policies provide liquidity for the financial sector, which theoretically allows commercial banks to provide more loans that could stimulate economic growth. Mark Carney, the central bank's new governor, has said policies would likely remain unchanged until the unemployment rate improves, setting a target of 7 percent or lower. The bank rate was set at 0.5 percent in March 2009. An asset purchasing program was established then, as well, but that program was expanded in July 2012.