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BoE holds benchmark interest rate at 0.5 pct

Xinhua, December 11, 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, BoE announced on Thursday.

At BoE' s Monetary Policy Committee (MPC) meeting ending on Wednesday, the MPC voted by a majority of 8-1 to keep the rates unchanged.

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

The 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 its meeting summary, 12-month CPI inflation remained at -0.1 percent in October, a little more than 2 percentage points below the inflation target. Inflation is expected to have been slightly positive in November. Endit