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UK and Swiss interest rates unchanged


UK and Swiss interest rates unchanged


As expected the Bank of England left its quantitative easing programme unchanged on Thursday at the equivalent of just over 220 billion euros and held UK interest rates at 0.5 percent.

Policymakers have indicated they are likely to stay on hold until at least February when the next growth and inflation forecasts are due.

The economy is showing signs of picking up again with forward-looking surveys pointing to an ongoing recovery in activity suggesting Britain will pull out of recession by the end of the year.

The Swiss National Bank also held interest rates steady and stuck to its pledge to fight an appreciation of the Swiss franc against the euro.

The chairman of the Swiss central bank said the economy is on the road to recovery, but still fragile and the risk of deflation remains.

Switzerland has suffered its worse recession in three decades.

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