UK rates stay at 5%

The Bank of England held its key rate at 5% for the third straight month on Thursday.

The decision was widely expected and most City of London economists predict the benchmark bank rate to remain at 5% for the rest of 2008.

"The Bank, in spelling out its inflation expectation, has conditioned the markets to expect no change in base rates possibly until the end of the year," said Edward Menashy, chief economist at Charles Stanley, a stockbroker. "Hence today's decision to leave interest rates

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