LONDON - The Bank of England has decided to leave interest rates steady amid growing signs that Britain's economy is on the mend.
Policymakers kept rates at a record
low 0.5 percent and opted to refrain from injecting more monetary stimulus into
the economy after their meeting Thursday.
The decision was widely expected,
though analysts say the central bank might have to consider tightening its
policy sooner than it had expected.
Governor Mark Carney said last year that the bank will
reassess its policy when the unemployment rate hits 7 percent. The rate has
since then dropped quickly, to 7.4 percent at last count, as Britain enjoys one
of the stronger recoveries in Europe. Carney, however, notes that the bank will
not act automatically when the threshold is reached.