BOE provides Fed-style forward guidance.

As expected, the Bank of England has provided explicit forward guidance for the first time, saying its key lending rate will stay at a record low of 0.5% until the U.K.'s unemployment rate drops to 7% from 7.8% in March-May. The BOE also doesn't intend to "reduce the stock of asset purchases financed by the issuance of central bank reserves" until the unemployment threshold is met. The bank could add to its QE if necessary.