Bank holds rates, halts asset purchases

The Bank of England's Monetary Policy Committee (MPC) voted on Thursday to hold the benchmark bank rate and the size the asset purchase programme constant.

The decision was widely expected.

The Bank said its forthcoming Inflation Report, to be released next Wednesday, had informed the decisions to halt the quantitative easing programme at £200 billion ($318 billion) and leave the key rate unchanged. "CPI inflation has risen sharply to well above the 2% target, reaching 2.9% in December," the MPC

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