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Bank Of England Keeps Rate, Bond Purchases Unchanged

The Bank of England left its key interest rate and bond purchases unchanged on Thursday and said that the slowdown in economic growth continued at the start of this year.

The nine-member Monetary Policy Committee, led by Governor Mark Carney, held the bank rate unchanged at 0.75 percent in line with economists' expectations.

The previous change in the bank rate was a quarter-point hike in August and the rate is now at its highest level since 2009.

The stock of corporate bond purchases was kept at GBP 10 billion and that of government bond purchases at GBP 435 billion.

"UK economic growth slowed in late 2018 and appears to have weakened further in early 2019," the bank said.

"This slowdown mainly reflects softer activity abroad and the greater effects from Brexit uncertainties at home."

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