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International Business Times
International Business Times
Business
AFP News

As Election Looms, BoE Set To Sit Tight On UK Rate

Bank of England United Kingdom Inflation Julian Jessop Britain
The risk of a resurgence in inflation and the July 4 election are seen as keeping the Bank of England from starting to cut rates at its Thursday meeting (Credit: AFP)

The Bank of England was set to hold its interest rate steady on Thursday despite slowing UK inflation, with higher price risks and Britain's looming election preventing a cut, according to analysts.

The BoE was widely forecast to keep its cost of borrowing at 5.25 percent, a 16-year high, following a regular monetary policy meeting.

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