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The Bank of England has held interest rates at 5 per cent after inflation remained steady in August.
Thursday’s decision by the UK’s central bank, which cut rates by a quarter of a percentage point at its meeting last month, was in line with economists’ expectations.
It comes a day after the US Federal Reserve cut rates by half a point and signalled that more reductions would follow.
UK inflation held steady at 2.2 per cent in August, but economists noted persistent price pressures in the services sector.
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