The Bank of England's Monetary
Policy Committee has voted to hold interest rates at 5%.
The doves on the committee led by David Blanchflower appear to have
failed to persuade the group that growth is weakening at a
sufficient rate to warrant a cut despite mounting inflationary
pressures.
It is the fourth consecutive month that the Bank has held rates
steady, following a rate cutting period ending in April.
As in previous months the news will come as a disappointment to
businesses and homeowners alike who would have hoped for a cut in
interest rates to offset other rising costs.



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