Cautious Bank of England holds rates steady at 4%

UK - The Bank of England on Thursday left is main interest rate unchanged at 4 per cent for the twelfth consecutive month, despite the US Federal Reserve's unexpectedly large rate cut on Wednesday.

Interestingly Marian Bell, one of the most recent members to join the MPC said last Thursday, before the Fed's half point rate reduction, that analysts were wrong to assume that the Bank of England would follow any move by the Federal Reserve to lower rates. If anything, a Fed rate reduction would take

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