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BOE unanimously vote to hold rate at 0.1%

BOE unanimously vote to hold rate at 0.1%

Bank of England monetary policy committee have unanimously voted to hold the benchmark interest rate at 0.1 percent, moving in line with market anticipations.

The BOE has also kept its bond purchases programme at 745 billion pounds with a unanimous vote.

“Recent domestic economic data have been a little stronger than the Committee expected at the time of the August Report, yet there remains a risk of a more persistent period of elevated unemployment than in the central projection,” the BOE said.

The outlook for the UK economy remains “unusually uncertain”, the BOE warned.

The central bank has pointed that there will be no change in monetary policy unless “there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2% inflation target sustainably.”

As of 11:23 GMT, the pound traded lower for the first time in four sessions at 1.2900 versus the U.S. dollar.

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