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Bank of England, European Central Bank Keep Rates Steady

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Britain’s central bank and the Bank of England (BOE), announced Thursday that it would keep interest rates at 0.50% and continue its program of quantitative easing, which was buying up to £200 billion in assets. That program, announced in March 2009, was intended to “inject money directly into the economy in order to meet the inflation target,” according to the Bank of England’s website. 

The European Central Bank (ECB) also announced Thursday that it would keep rates steady at 1% for its “main refinancing operations;” 1.75% for its “marginal lending facility,” and 0.25% for its “deposit facility.” 

In the U.S., the Fed Funds rate currently is at a target range of 0.0% to 0.25%. The next Federal Open Market Committee meeting is Nov. 2-3.


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