Bank of England holds interest rate at 0.5 per cent

The Bank of England is holding its base interest rate at 0.5 per cent amid broad expectation of a cut to 0.25 per cent.

The central bank's monetary policy committee believes markets have "functioned well" since last month's vote for Britain's exit from the European Union, despite a sharp fall in the British pound against the dollar.

"The improved resilience of the core of the UK financial system and the flexibility of the regulatory framework have allowed the impact of the referendum result to be dampened rather than amplified," it says.

Last update: Thu, 14/07/2016 - 13:30

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