Britain holds rates

The Bank of England made a break with policy, insisting any rise in its record low interest rate would be tied to a drop in unemployment. The central bank will not raise its key rate from 0.5 per cent until British unemployment has fallen to a threshold of 7 per cent. The jobless rate currently stands at 7.8 per cent.

The Bank of England made a break with policy, insisting any rise in its record low interest rate would be tied to a drop in unemployment. The central bank will not raise its key rate from 0.5 per cent until British unemployment has fallen to a threshold of 7 per cent. The jobless rate currently stands at 7.8 per cent.