BOE Extends Record-Low Rates Into a Sixth Year to Aid Growth

Bank of England policy makers extended unprecedented stimulus into a sixth year today as they seek to ensure the economy fully recovers from the damage wrought by the financial crisis.

The Monetary Policy Committee led by Governor Mark Carney held its benchmark interest rate at 0.5 percent, as predicted by all 52 economists in a Bloomberg News survey. The central bank has maintained borrowing costs at a record low since March 2009, the longest stretch of unchanged policy since the 1940s. It also said today it will reinvest funds from gilts in its asset-purchase facility that mature tomorrow.