Bank of England keeps rates unchanged

The Bank of England announced its Monetary Policy Committee has decided to hold its repo rate at 4.00 per cent for the tenth successive month.

The bank has cut rates by a cumulative 100 basis points since the September 11th attacks on the United States in an attempt to shore up British economic expansion.

The decision was widely expected. All of the 23 economists polled by AFX News last week predicted rates will be held.

The minutes of today's meeting will be published on September 18.

PA