The Bank of England froze its key interest rate at a record low level on Thursday and held to credit-easing plans while waiting to see if the economy builds on signs of recovery from recession. “The Bank of England's Monetary Policy Committee (MPC) today voted to maintain the official bank rate paid on commercial bank reserves at 0.5 percent,” the BoE said in a statement. In a separate move on Thursday, the European Central Bank also froze its main euro zone interest rate at a historic low level of 1.0 percent as it too battles a deep downturn in the 16
