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International Business Times
International Business Times
Business
Ben PERRY

Bank Of England Freezes Rate After Jumbo US Cut

United States Bank of England The Bank of England US Federal Reserve the US Federal Reserve Andrew Bailey Inflation ECB United Kingdom
Bank of England policymakers voted 8-1 for no rate change, having narrowly backed an August cut (Credit: AFP)

The Bank of England on Thursday kept its key interest rate at 5.0 percent, deciding against consecutive cuts one day after a bumper reduction from the US Federal Reserve.

Following a regular meeting BoE governor Andrew Bailey said the central bank needed "to be careful not to cut too fast or by too much", as UK inflation stays above its target.

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