The Bank of England reduced its key interest rate to 5.0 percent on Thursday, opting for no change for the third month in a row as the central bank took stock of recent turmoil on world financial markets.
Sterling rebounded slightly against the dollar following the announcement which was in line with market expectations.
The decision by the BoE's Monetary Policy Committee (MPC) comes before a separate rate call at 1145 GMT from the European Central Bank, which is also expected to freeze eurozone borrowing costs at 4.00 percent.
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