Bank of England leaves rates unchanged

The Bank of England today announced that it would leave its benchmark interest rate at 5.75%. The decision to hold rates steady was widely expected, though most economists expect rates to rise to 6% before the end of this year.

Although inflation has remained above the Bank of England's 2% target for 14 consecutive months, the Bank's five rises over the past year have recently started to take effect. Inflation is trending downwards, after peaking above 3% earlier this year.

As is the case with

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