BofE Keeps Interest Rate at 0.75%

BofE Keeps Interest Rate at 0.75%

LONDON (AP) -- The Bank of England on Thursday opted against cutting interest rates after a run of fairly firm economic data in the past week eased fears about a dramatic slowdown in the British economy.

The bank said in a statement that its Monetary Policy Committee voted 7-2 to keep the key U.K. interest rate unchanged at 0.75%.

The decision, which comes a day before the U.K. leaves the European Union, marks the final time that Mark Carney will be at the helm at the bank. He leaves in March, to be replaced by former deputy governor Andrew Bailey.

(KR)