The Bank of England (BoE) left its benchmark interest rate unchanged Thursday — as expected – as the prolonged risk of stubbornly low inflation pushes back expectations of an interest rate rise, with a hike in 2015 now looking less likely.
The U.K. central bank’s nine-member Monetary Policy Committee (MPC) left the bank’s main interest rate at a record low of 0.5 percent and the total size of its bond portfolio at £375 billion ($571 billion) after their February policy meeting.
The decision comes after official figures last month showed that inflation in the U.K. fell to its lowest level since May 2000 in December, and is likely to fall even further, according to BoE Governor Mark Carney.
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