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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.
Analysts expect that the BoE will start to raise interest rate later this year. But the central bank might delay its interest rate hike because of low inflation and a slowdown of the economic growth in the Eurozone. The wage growth in the U.K. remained under pressure despite the growth in the three months to October.
The recent released UK's manufacturing, services and construction sectors' economic reports showed a slowdown in these sectors.
Investors are awaiting the minutes of the monetary policy committee (MPC). The minutes of the meeting will be released on January 21.
The BoE policymakers remain divided on whether or not to raise interest rates in the U.K. Two MPC members voted in December for the fifth consecutive month to raise interest rates to 0.75% from 0.5%.
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