Bank of England Keeps Interest Squeeze on Economy
CITY bosses kept the squeeze on the British economy by voting to keep interest rates at 5 per cent today.
The Bank of England’s key monetary policy committee (MPC) decided by eight votes to one against a rate cut, keeping the cost of borrowing high.
This was in spite of an earlier announcement that inflation remains stable at just 2.2 per cent, only slightly above the Bank’s mandated target of 2 per cent.
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