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Bank of England keeps base rate at 0.5%

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The Bank of England Monetary Policy Committee has voted to keep base bank rate at 0.5 per cent. 

The MPC vote was unanimous. 

Last month, the MPC hiked the base rate from 0.25 per cent to 0.5 per cent. 

Santander UK chief economist Frances Haque says the move was “expected”. 

He adds: “Financial markets and economic commentators had not been expecting the MPC to increase rates again when it met, with the consensus view that the MPC would hold off making any further increases in 2017. 

“A clear point of interest in the coming months will be when the next hike is likely to come to meet this steady approach, with commentators holding differing views on when this might occur in 2018.” 


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