BOE Keeps Stimulus as Recovery Concerns Outweigh Inflation

The Bank of England kept its benchmark interest rate at a record low as policy makers chose to set aside concerns on rising inflation pressures to support the U.K. economic recovery.

The Monetary Policy Committee, led by Governor Mervyn King, set the key rate at 0.5 percent for a 25th month, as forecast by all 61 economists in a Bloomberg News survey. They also left their bond program at 200 billion pounds ($324 billion), as predicted by all 34 economists in a separate poll.