Bank Of England Holds Key Rate At 0.5% In 8-1 Vote

The Bank of England on Thursday left its lending rate at a record low of 0.5%, as expected. Policy makers voted 8-1 to hold the rate where it's been since March 2009. BOE member Ian McCafferty voted for a rate increase of 25 basis points. The bank's quantitative-easing program was also left unchanged, at 375 billion pounds ($577 billion). The pound rose to $1.5437 after the decision was released, compared with $1.5369 late Wednesday. The FTSE 100 index slightly extended its loss to 1% at 6,167.28.

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