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UK interest rates held at record low

bankofenglandThe Bank of England has decided to retain the 0.5% interest rate.

The record low has been in effect since March 2009.

The Monetary Policy Committee (MPC) also decided to keep the size of the Bank's economic stimulus programme, known as quantitative easing (QE), unchanged at £375bn.

Although the bank’s governor, Mark Carney, had warned in June that interest rates will inevitably go up, noting that it “could happen sooner than markets expect”, that rate remains unaltered.

Since June, inflation has been falling and concerns have been heightened over a potential for a triple-dip recession in the eurozone.

Speculation now is that the current low rate will hold until next spring.

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