Bank of England holds interest rates steady
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19/09/24
The Bank of England has held interest rates steady following Thursday's move by the US Federal Reserve. The bank's board voted eight to one to keep rates at five per cent. The Governor of the Bank of England Andrew Bailey believes UK rates will begin to come down if inflation remains low. Last month, the bank lowered interest rates for the first time since the COVID pandemic - dropping rates by 25 basis points.
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