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BoE holds base rate at 0.5 per cent

The Bank of England’s Monetary Policy Committee has again voted to keep base rate at 0.5 per cent, the 68th consecutive month it has been held at the historic low.

Members also voted to maintain its programme of quantitative easing at £375bn.

Minutes from the MPC’s October meeting revealed members held off raising the benchmark interest rate due to ongoing risks in the Eurozone, although two members, Martin Weale and Ian McCafferty, voted in favour of an increase for the third month in a row.

The minutes from this month’s meeting will be published on 19 November.

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