The Bank of England left its benchmark interest rate unchanged for the second straight meeting on Thursday as economic activity in the UK is projected to be weaker than previously estimated and the labor market showed signs of loosening, and the bank vowed to keep the policy restrictive for sufficiently long to bring inflation back to the target sustainably.
The Monetary Policy Committee, led by Governor Andrew Bailey, voted by a majority of 6-3 to maintain the Bank Rate at 5.25 percent.
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by Renju Jaya
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