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9/17, 1:01 PM (Source: TeleTrader)
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BoE holds interest rates at 0.1%

Bank of England (BoE) decided on Thursday to keep its interest rates unchanged. The Monetary Policy Committee (MPC) reached a unanimous decision to maintain the benchmark Bank Rate at 0.1%. The MPC also decided to maintain its corporate bond-buying program at the current level of £745 billion.

The central bank stressed that the economic outlook remains "unusually uncertain" due to COVID-19 and Brexit concerns and hinted it could use negative rates to support the economy if needed.

"The path of growth and inflation will depend on the evolution of the pandemic and measures taken to protect public health, as well as the nature of, and transition to, the new trading arrangements between the European Union and the United Kingdom," the BoE stated.

Breaking the News / NP