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BoE benchmark interest rate unchanged at 0.5 pct

Xinhua, November 6, 2015 Adjust font size:

The Bank of England (BoE), Britain's central bank, maintained the benchmark interest rate at the record low of 0.5 percent, with it on hold for six-and-a-half years, BoE announced on Thursday.

The BoE's Monetary Policy Committee (MPC), led by governor Mark Carney, voted by 8 to 1 to keep the rates unchanged.

The Committee also voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves at 375 billion pounds (570 billion U.S. dollars).

In its meeting summary, the Bank said that the outlook for global growth had weakened, which was depressing the risk of inflation.

MPC sets monetary policy in order to meet the 2 percent inflation target and in a way that helps to sustain growth and employment. In September, 12-month CPI inflation stood at minus 0.1 percent, slightly over 2 percentage points below the inflation target. Endit