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Economics

Bank of England unexpectedly keeps rates unchanged, pushing pound lower

Governor Andrew Bailey surprises markets by voting to keep policy on hold for now

The Bank of England opted to hold off on an interest-rate hike that futures markets had fully priced in.

The BoE decided to keep interest rates at 0.1%, rather than raise them to 0.25%, in a 7-to-2 vote. By a 6-to-3 vote, the central bank kept its quantitative easing program unchanged that’s due to expire next month.

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