Bank of England keeps key rate at record low of 0.5%

Bank of England keeps key rate at record low of 0.5%

14 April 2016, 16:08
Francis Dogbe
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The Bank of England has decided to hold rates at 0.5 percent once again, a record low for seven years. All nine members of the BoE's Monetary Policy Committee (MPC) voted to hold on to low rates amid concerns over global growth and uncertainty ahead of a Brexit vote. Ahead of the decision, the FTSE stood lower, led by weak earnings from Burberry and Persimmon, and sterling was down 0.2 percent after weekly highs of 1.437 against the USD this week. The bank has been in no hurry to raise rates, and, with uncertainty over the referendum on the U.K.'s membership of the European Union in June, many anticipate it will... READ MORE
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