Bank of England keeps interest rates on hold and promises to buy more assets

US, WASHINGTON (ORDO NEWS) —  The Bank of England kept interest rates at a record low of 0.1 percent on Thursday and said it was ready to further increase its asset purchases if needed to support the economy or protect it from undue tightening of financial conditions.

The Bank of England said it would keep the full size of its bond-buying program, which mostly includes British government debt and some corporate bonds, at 645 billion pounds ($ 774 billion).

The central bank made two emergency interest rate cuts earlier this month and the size of its bond-buying program increased in an effort to offset some of the damage to the economy from the outbreak of the Corona virus and the government’s response to it.

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