The Bank of England has opted to keep interest rates at a record low of 0.5%, marking its sixth calendar year in a row in which there’s been no change.
The Monetary Policy Committee voted 8-1 on Thursday to keep rates steady. With inflation at minus 0.1%, there’s little pressure to act. The bank last changed rates in March 2009.
The bank suggested in its quarterly inflation report last month that a rise may be a year away.
That contrasts with action from other central banks. The U.S. Federal Reserve is expected to raise interest rates next week, while the European Central Bank cut a key rate earlier this month.