MOSCOW (Sputnik) – The Bank of England retained its interest rate at 0.5 percent in a 8-1 vote in its Monetary Policy Committee (MPC), the bank said Thursday.
"At its meeting ending on 13 July 2016, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%, with one member voting for a cut in Bank Rate to 0.25%," the bank said.
The BoE's interest rate has been at a record low of 0.5 percent since 2009, when it was lowered to stimulate the UK economy out of recession. On June 16, the MPC voted to keep the interest rate unchanged.
