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Wednesday, September 18, 2013

BOE united in keeping policy on hold.

The Bank of England's Monetary Policy Committee(MPC) voted unanimously to keep interest rates at 0.5% and against more bond-buying at a meeting earlier this month. With data showing that the U.K.'s recovery is taking hold, "no (MPC) member judged that further stimulus was appropriate at present." That's a change from August, when some in the MPC felt there was a "compelling" case for loosening policy. The pound spiked vs the dollar and was +0.4% at $1.5965 at the time of writing, while the FTSE was +0.15%.

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