BoE keeps interest rates on hold at 0.5%
The Bank of England (BoE), the central bank of the UK, on Thursday voted to keep the interest rates on hold at a record low of 0.5%. Meanwhile, the inflation estimate for the quarter ending March was slashed to 1.2% from the 1.5% expected in November. Further, the bank lowered UK's GDP growth expectation for 2016 to 2.2% from 2.5%. 