Bank of England leaves interest rates on hold

(Sharecast News) - The Bank of England left interest rates unchanged on Thursday, as widely expected.

At its final meeting ahead of the Budget, the Monetary Policy Committee voted by a majority of five to four to leave the cost of borrowing at 4%.

The four members voted to reduced Bank Rate by 25 basis points, to 3.75%

Although economic growth remains sluggish, the BoE is also battling persistently sticky inflation.

The consumer price index currently stands at 3.8%, off recent highs but still well above the BoE's long-term target of 2%.