The Bank of England decided on Thursday to maintain its benchmark rate and continue with trimming its government debt holdings, as well as adopted a cautious approach despite the US Federal Reserve slashing the policy rate by a half percentage points a day earlier.
The BoE Monetary Policy Committee, headed by Governor Andrew Bailey, voted by a majority of 8-1 to hold the Bank Rate at 5.00 percent. The decision was in line with expectations as markets expected a cut only next month.
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by Renju Jaya
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