Officials vote to hold rates

Chris Papadopoullos
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BANK of England (BoE) officials yesterday voted to keep policy rates at 0.5 per cent.

The decision not to raise rates was largely expected after the BoE’s last inflation report warned annual inflation was likely to dip below one per cent at some time over the next six months.

The BoE blames falling oil prices for pushing inflation below its two per cent target rate. Minutes of the meeting will be released on 17 December.