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BREAKING NEWS

Bank of England keeps rates at record low

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Bank of England keeps rates at record low

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British interest rates are to stay at their record low of 0.5 percent for an 18th consecutive month. It comes as no great surprise but The Bank of England has been under some pressure recently to raise rates to curb above-target inflation. UK inflation was 3.1 percent in July, while the BoE’s target is two percent, but interest rates are being kept low to protect the slowing recovery.