Bank of England sticks with rate cut signal despite Brexit bounce

September 15, 2016 11:51 AM

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Bank of England sticks with rate cut signal despite Brexit bounce

LONDON The Bank of England said on Thursday it was still likely to cut interest rates to just above zero later this year, even though the initial Brexit hit to Britain's economy was proving less severe than it expected only last month.

The Bank's nine rate-setters voted unanimously to keep Bank Rate at its new record low of 0.25 percent, the lowest level in the BoE's 322-year history.

Also read: UK manufacturing growth cools unexpectedly in November: PMI

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