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Bank of England Holds off on Rate Cut Despite Easing Inflation

By Paul Hannon and Will Horner

 

LONDON--The Bank of England left its key interest rate at a 16-year high Thursday, but signaled it may follow a growing number of its European peers by lowering borrowing costs over the coming months.

The U.K.'s central bank held its key rate at 5.25% for the seventh straight meeting, in line with what investors and economists had expected. Two of the nine members of its Monetary Policy Committee voted to lower the key rate to 5%, repeating the voting pattern of their May gathering.

 

Write to Paul Hannon at paul.hannon@wsj.com and Will Horner at will.horner@wsj.com

 

(END) Dow Jones Newswires

June 20, 2024 07:18 ET (11:18 GMT)

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