BOE Drops Reference to Rate Cut as It Considers Policy Options
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Bank of England policy makers dropped a reference to interest-rate cuts this month as they voted to keep their bond-purchase target unchanged and said they will assess the need for other stimulus measures.
The Monetary Policy Committee voted 9-0 to hold the target at 375 billion pounds ($587 billion), according to the minutes of the Aug. 1-2 meeting, published in London today. It also voted 9-0 to keep the benchmark interest rate at a record-low 0.5 percent.