May 7, 2008Interest rate cut unlikely that week
by Kay Murchie

Concerns about inflation has meant that the bank of England’s Monetary Policy Committee may leave interest rates on hold when it meets that Thursday.

Last month, interest rates were

cut from 5.25% to 5%, which was widely expected by economists. However, two members, Tim Besley and Andrew Sentence, voted against the move considering of the weakening pound and increased oil costs.

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