Spain arrests two over online exotic cat sales
Bank of England keeps record-low interest rate
8:39 CAT | 15 Jan 2016
In file Club of Mozambique
The Bank of England (BOE) on Thursday decided to keep its main interest rate at a record-low 0.5% against a backdrop of low inflation and growth in the UK.
The BoE’s monetary policy committee (MPC) left its key rate at 0.5%, where it has stood since March 2009, it said in minutes from the latest two-day monthly gathering.
The bank also maintained the level of cash stimulus, or quantitative easing (QE) for the UK at £375bn.
The rate-setting MPC panel “voted by a majority of 8-1 to maintain bank rate at 0.5%”, the bank said in the minutes.
It voted unanimously to keep QE unchanged.
“Recent volatility in financial markets has underlined the downside risks to global growth, primarily emanating from emerging markets,” the BoE said on Thursday. It added that recent “declines in oil prices will depress global inflation in the near term”.
The BoE’s main task is to try keep 12-month inflation close to a government-set target of 2.0%. The most recent official data showed that the consumer price index rose 0.1% in November.
Source: AFP
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