BANK OF ENGLAND VOTES 9-0 TO HOLD AT 0.5%

The Bank of England has voted to keep interest rates on hold once again in its February meeting — as analysts had expected.

The BoE has been on hold as far as interest rates are concerned since March 2009, when the monetary policy committee cut Bank Rate to 0.5%.

All nine members of the MPC voted to keep rates as they were.

While MPC Member Ian McCafferty had voted for a 0.25% rise in previous meetings, he changed his position on deflationary risks from the falling oil price.

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