Bank of England keeps interest rates on hold

The Bank of England’s Monetary Policy Committee voted 9-0 today to keep interest rates on hold, citing August's benign inflation report.

The Bank of England's Monetary Policy Committee voted 9-0 today to keep interest rates on hold.

The MPC cited August's inflation report, which showed the consumer price index had fallen back to below the Government's 2% target. It stated that consumer spending showed tentative signs' of slowing, whilst pay pressures remained muted', although the committee did point to indications of elevated pricing pressures (for more on rising prices, read: Why now is a good time to invest in food).

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