Bank of England leaves interest rates on hold
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The Monetary Policy Committee, which cut interest rates for the first time in four years in August, opted to leave them unchanged by a majority of 8 to 1.
GDP growth has stalled recently, with data last week showing the economy stagnating for the second consecutive month in July. Analysts had been expecting in a 0.2% uplift.
But data from the Office for National Statistics on Wednesday showed inflation holding steady at 2.2% in August, above the BoE’s long-term 2% target, while core inflation and services inflation both accelerated.