Bank of England keeps 5.25 pcnt interest rate

LONDON, May 9 (KUNA) -- The Bank of England has maintained the interest rate of 5.25 percent for the sixth time in a row in a bid to rein in the inflation rate.
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 7-2 to maintain the bank rate at 5.25 percent, the MPC said in a press release on Thursday.
Twelve-month CPI inflation fell to 3.2 percent in March from 3.4 percent in February. CPI inflation is expected to return to close to the 2 percent target in the near term, but to increase slightly in the second half of this year, to around 2آ½ percent, it added.
The MPC expected that the decision to maintain the interest rate would lead to improving the British economy and cutting unemployment this year. (end) mrn.mt