It also said the extent of any further stimulus measures would be based on its updated forecasts. (Reuters photo)LONDON - The Bank of England kept interest rates unchanged on Thursday, wrong-footing many investors who had expected the first cut in more than seven years with Britain's economy reeling from last month's vote to leave the European Union. In the minutes published on Thursday, the Bank said the composition of any additional stimulus measures "would take into account any interactions with the financial system". The surprise decision to keep rates on hold pushed up sterling to a two-week high against the US dollar of $1.348 and British government bond yields rose. Most economists taking part in a Reuters poll had expected the central bank to halve its bank rate to 0.25% in order to cushion the economy from the shock of the Brexit vote.

Source: Bangkok Post July 14, 2016 11:48 UTC