Mar 5, 7:01 AM EST

Bank of England keeps interest rates steady and refrains from pumping money into the economy

Business Video

Latest Business News
Lew tells Congress he will start using emergency measures to avoid debt limit next week

As it falls to its weakest since 2003, euro gets closer to parity with dollar

US stocks open lower strong jobs report raises prospect of summer rate hike; dollar jumps

Hiring burst sends stocks, bonds lower as investors anticipate higher US interest rates

Strong hiring by restaurants, construction firms and business services point to growth ahead

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Strong hiring by restaurants, construction firms and business services point to growth ahead

US employers added a robust 295K jobs in Feb; unemployment rate falls to 5.5 pct.

Russia imports down by more than a third in Jan, Feb amid fall in ruble

Egypt to present some 50 projects valued at $35 billion during major investment conference

Bank of England keeps interest rates steady and refrains from pumping money into the economy

China lowers economic growth target, promises to open more industries to foreign investment

German factory orders show unexpectedly large fall in January, led by lower eurozone demand

Hotels, restaurants and wholesalers expand as consumer spending lifts US economy

AP survey: Cheap oil and lower interest rates are brightening outlook for global economy

Poland slashes interest rates to historic low of 1.5 percent to fight deflation risk

Buy AP Photo Reprints
Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

LONDON (AP) -- The Bank of England has opted to keep interest rates steady at 0.5 percent even as the economic recovery brings the prospect of rate hikes closer.

The rates have been at the same level since March 2009, during the global financial crisis. But with annual inflation at 0.3 percent, and the possibility of an outright drop in prices in coming months, there was little pressure on policymakers to act Thursday.

Governor Mark Carney has suggested rates could fall if inflation remains low, but said that's unlikely. Carney has said he expects the next move in bank policy to be a rate rise.

Samuel Tombs, economist at Capital Economics, says the bank is likely to remain in "wait and see" mode until the summer, when things should become clearer.

© 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.