Bank of England indicates interest rate hikes still far off

  • 2/5/2023
  • 20:13
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LONDON, Shawwal 21, 1436, Aug 6, 2015, SPA -- The Bank of England appears to be still far from raising interest rates, after its policymakers showed more unanimity than expected Thursday in keeping the key borrowing rate at a record low, AP reported. Amid concerns over low inflation and slowing growth in Asia, the Bank of England's policymakers voted 8-1 to leave the rate at 0.5 percent for a 78th consecutive month and opted not to pump more money into the economy. The near-unanimity surprised investors and analysts, who had expected two or even three policymakers to seek a rate increase. The pound fell sharply on the news, to $1.5482 from $1.5630 earlier. The prospect of a longer period of low interest rates tends to weaken a currency. --SPA 22:26 LOCAL TIME 19:26 GMT www.spa.gov.sa/w

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