The Bank of England kept its benchmark interest rate steady on Thursday to support the UK economy's ongoing recovery, as figures showed house prices rose at the most rapid pace in almost 12 years during May.
UK interest rates were held at a record low of 0.5% by the Bank of England's Monetary Policy Committee on Thursday.
The Bank of England’s Monetary Policy Committee voted Thursday to maintain the official Bank Rate paid on commercial bank reserves at the record low 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion.