The Bank of England approved keeping the benchmark rate at a record low, pointing to disappointing perspective for US economic growth and inflation.
With 8-1 vote, policymakers voted to keep the interest rate at 0.5% to counter the economic risks encompassing the country. The rate has been maintained for nearly seven years and there is minimal hints policy tightening will occur at any time soon.
BOE officials, in the minutes of their policy meeting in January, asked for additional time to review the impacts of recent market volatility.
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