Bank of England keeps its interest rate on hold at 0.5% in October

Market news

8 October 2015

Bank of England keeps its interest rate on hold at 0.5% in October

The Bank of England (BoE) released its interest rate decision on Thursday. The BoE kept its interest rates unchanged at 0.5% and its asset purchase program unchanged at £375 billion. This decision was widely expected.

Bank of England (BoE) Governor Mark Carney said in September that it will become clearer "around the turn of this year" whether to start raising interest rates or not.

Financial markets suggest that the BoE will start to raise its interest rate by the end of next year or even early 2017.

The central bank expect the U.K. economy to expand 0.6% in the third quarter.

Bank of England's Monetary Policy Committee October minutes: 8-1 split to keep monetary policy unchanged

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