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5/6, 1:01 PM (Source: TeleTrader)
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BoE votes to hold interest rates

The Bank of England's (BoE) Monetary Policy Committee (MPC) voted unanimously on Thursday to leave the interest rates at their current level. The BoE also decided to keep its bond-buying stimulus scheme unchanged at £895 billion with an 8-1 majority. The only member of the MPC who voted against was BoE Chief Economist Andy Haldane.

BoE also slowed down the pace of weekly bond purchases to £3.4 billion but underlined that the pace slowdown doesn't constitute a change of policy.

The United Kingdom economy is expected to rebound to its pre-pandemic levels by the end of 2021, the central bank forecasted, and added that the inflation will average approximately 2.5%.

Breaking the News / BU