Economic news

Bank of England holds interest rates at record low

The Bank of England on Thursday kept interest rates at their record low of 0.25%, as market watchers had expected.

However, 3 of 5 policy makers voted for a 25 basis point rate hike in order to prevent rising inflation, which had risen to nearly 3%, above the Bank’s 2.0% target.

The central bank also left the rate of bond purchases at their current pace.

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