Old Lady holds rates, relaxes reserve rules
The rate hold was the third in a row for the Bank, since the 25 basis point hike in July due to concern over inflation. At that point, rates were expected to hit 6% before the year-end.
But the Bank now has a very different set of problems to deal with, coming under a great deal of strain for its perceived role in the Northern Rock affair, which led to the first run on a UK bank since the
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