LONDON (AP) — The Bank of England has kept its key interest rates unchanged amid rising optimism over the British economy’s near-term prospects in the wake of the rapid rollout of coronavirus vaccines. The U.K.’s rapid rollout of coronavirus vaccines has improved the economic outlook and lowered expectations of another move imminently. The bank’s rate-setting committee said the economy is “projected to recover rapidly towards pre-COVID levels over 2021, as the vaccination programme is assumed to lead to an easing of COVID-related restrictions and people’s health concerns.” That reduces the need for more stimulus policies from the Bank of England in the short term.
