The Bank of England has kept its key interest rate at an all-time low of 0.5 percent as the tepid economic recovery in Britain continues to outweigh concerns over inflation, according to AP. Thursday's decision by the nine-member Monetary Policy Committee to keep the rate unchanged for the 28th straight month was anticipated. The Bank also kept its financial asset program unchanged. Before pausing in December 2009, the central bank had pumped in 200 billion pounds ($330 billion) into the U.K. economy to support the economy. Though inflation is running at more than double the Bank's target of 2 percent at 4.5 percent, the majority of rate-setters think inflation will ease fairly dramatically next year as the impact of rising energy costs drops out of annual comparisons.
