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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.

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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