BoE leaves interest rates at record low on deflation fears

London

THE Bank of England on Thursday voted to keep interest rates at a record-low 0.50 per cent, where they have stood for nearly six years, amid fears of deflation and slowing growth.

Policymakers also decided to maintain the level of quantitative easing cash stimulus at £375 billion (S$771 billion), the BoE said in a statement at the conclusion of a two-day meeting.