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Interest rates held at 5 percent
The Bank of England held interest rates at 5% with inflationary risks being thought too great to allow another cut in borrowing costs which many believe the wider economy needs.
The decision follows yet more negative press around the state of the economy with many in the property industry asking for cuts to bolster the housing market.
The MPC will though have been conscious that rising fuel and food supply costs are causing inflationary pressures and in truth back to back rate cuts were unlikely.
