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BoE holds rate as inflation remains above target

Staff Reporter 1 minute read

Despite a struggling British economy, the Bank of England (BoE) left rates unchanged overnight at five per cent.

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The decision indicated that the BoE remained significantly concerned over inflation levels, despite mounting fears the country may slide into recession.

The English housing market is of particular concern; data from Halifax released this week showed house prices are down 6.1 per cent from one year ago and were dropping at the fastest rate in 15 years.

Published: 11-07-08

BoE holds rate as inflation remains above target
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