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05.11.2015 15:06 Bank of England keeps its interest rate on hold at 0.5% in November

The Bank of England (BoE) released its interest rate decision on Thursday. The BoE kept its interest rates unchanged at 0.5% and its asset purchase program unchanged at £375 billion. This decision was widely expected.


The central bank expect the U.K. economy to expand 0.6% in the fourth quarter.


The central bank lowered its growth forecasts to 2.7% this year, down from the previous forecast of 2.8%, and 2.5% next year, down from the previous forecast of 2.6%.


Inflation is expected to hit the central bank's 2% target by the end of 2017.

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