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UK rates on hold

THE Bank of England kept official interest rates on hold yesterday, ending a series of cut in recent months that have brought rates to a record low of 0.5 percent, saying it would instead continue with its asset-buying program to boost the money supply.

The decision on rates - the first time the central bank has held its hand since it started slashing borrowing costs in October to fortify Britain against a deepening recession - was widely expected.


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