UK rates held as Brexit clarity shores up economic surveys
The Bank of England on Thursday opted against cutting interest rates amid signs of improvement in the British economy in the run-up to Britain’s imminent departure from the European Union.
The bank said in a statement that its Monetary Policy Committee voted 7-2 to keep the key U.K. interest rate unchanged at 0.75%. The committee split the same way in December, but the strong vote in favor of holding expressed the day before Brexit came as somewhat of a surprise.
Earlier this month, some rate-setters indicated they might be in a position to reduce interest rates.
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