The Bank of England is keeping its main interest rate unchanged at 3.75% with U.K. inflation remaining above target and economic growth is showing signs of picking up. The decision Thursday was widely anticipated in financial markets. The central bank, which sets interest rates for the whole of the U.K., has been steadily reducing interest rates over the past 18 months, more often than not every three months. It last cut its key rate in December by a quarter of a percentage point and indicated that further reductions are likely this year.
