New BoE head makes mark at first policy meeting

LONDON (AP) ? The Bank of England's new governor voted with other policymakers earlier this month as they refrained from pumping more money into Britain's economy.

The minutes to the Bank's policy setting were eagerly anticipated as analysts try to work out what change Mark Carney brings to proceedings. His vote to keep policy unchanged contrasts with the recent stance of his predecessor, Mervyn King, who had been voting for another monetary stimulus.

As well as keeping the 375 billion pounds ($579 billion) stimulus unchanged, the nine rate-setters voted unanimously to keep the Bank's main interest rate at 0.5 percent.

Jobs figures, also released Wednesday, from the Office for National Statistics showed a drop in the British unemployment rate to 7.8 percent in the three months to May.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-07-17-EU-Britain-Economy/id-a73e2e9b2a71437281587437bf6ad6b4

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