UK interest rates remain unchanged at record low

Bank of England officials kept interest rates unchanged at a record low, leaving the pound lower against the euro.

It slipped 0.4 per cent to 75.80 pence per euro as of 12:10 pm. It had earlier reached 76.07 pence, the weakest level since January 2015. It was little changed at $1.4412.

BOE policy makers said the near-term outlook for both UK economic growth and inflation has weakened and that recent market volatility highlights the downside risks to the world economy.

Bloomberg