Bank of England hold rates, extends bond reduction plan


  • World
  • Thursday, 19 Sep 2024

A view of the Bank of England building, in London, Britain July 3, 2024. REUTERS/Maja Smiejkowska

LONDON (Reuters) -The Bank of England held interest rates at 5.0% on Thursday and voted to run down its stock of British government bonds by another 100 billion pounds ($133 billion) over the coming 12 months, a move that could weigh on the government's finances.

The Monetary Policy Committee voted 8-1 to keep rates on hold. Only external member Swati Dhingra voted for a further quarter-point rate cut after the BoE last month delivered its first reduction to borrowing costs since 2020.

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