BoE holds rates at 5.25%

The Bank of England has opted to keep rates on hold, as expected, following last month's cut and relatively favourable data on growth.

The Bank, which only issues an explanatory statement when there is a change in rates, said it will publish the minutes of the meeting on Wednesday 19 March.

George Buckley, the chief UK economist at Deutsche Bank, said: "A combination of less pessimistic activity numbers and rising price pressures led to the Bank holding rates today."

"The data is soft but not

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