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Interest Rates remain at 5%

Started by propertyfag, August 07, 2008, 11:50:09 AM

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propertyfag

The Bank of England has kept interest rates on hold at 5% as it struggles to deal with a slowing economy and spiralling inflation.

Many reports have shown the economy heading for a significant slowdown or even a recession.

But the Monetary Policy Committee's primary goal is to keep inflation at 2% and it currently stands at 3.8%.



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jenna343

that's some news. i hope things will get better in time!