LONDON-- The Bank of England on Thursday declared stabilizing the interest rate at 4.75 percent affirming that it would continue to adopt prudent policies to lower it "slowly" with consideration to various economic indexes.

The BoE monetary commission said in a statement that six of its nine members voted in favor of the decision while the rest voted for lowering the rate by quarter of a point to 4.5 percent.

The approach for gradual cut of the interest rate in the future remains the right option, however in the shadow of the uncertainties in the British economy, neither a specific timetable can be set nor forecast cut can be made for next year.
The commission statement added that the BoE (the nation's central bank) continues to make overall assessment of the impacts from the state budget, declared in late October.

Meanwhile, the BoE Governor Andrew Bailey said in a statement that a plan by the US president-elect Donald Trump to slap tariffs on imports from China and other nations would heavily affect products' prices and inflation rates.
The BoE needs to ensure that the inflation restores the set level, two percent, on sustainable basis, Bailey said.

The British statistical bureau reported on Wednesday that inflation, according to the consumer index, climbed, last month, by 2.3 and 2.6 percent, the highest rise since eight months ago. The report alluded the record rise that persisted for the second month in a row to rise of fuel prices by 0.9 percent, tobacco and alcoholic drinks by 1.6 percent. 

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