Bank of England keeps interest rates unchanged at 0.5%
Despite two members of the Monetary Policy Committee voting for interest rates to increase to 0.75%, the majority of members voted to keep rates unchanged at 0.5%. Rates have been at this level since March 2009.
Experts predict that rates will not increase until the last quarter of 2015 due to inflation being well below the Bank’s 2% target and because there is no sign that inflationary pressures will build in the economy in the near future.
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