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The Bank of England has voted to keep interest rates at 5.25% after 14 consecutive increases following an unexpected marginal drop in inflation announced on Wednesday.
The Monetary Policy Committee voted to keep interest rates at 5.25% after UK inflation fell marginally easing pressure on the bank to increase rates once again.
The bank targets 2% inflation and has raised interest rates accordingly 14 times over the past two years, to try to force it lower.
Interest rates are currently at their highest level since February 2008.
The US Federal Reserve announced yesterday that its benchmark interest rate would remain unchanged on Wednesday.
(Reporting by Imogen Lillywhite; editing by Brinda Darasha)
