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Bank of England maintains lending rate

The Bank of England said Thursday it would keep its key interest rate at 5 percent.

The lending rate, which applies to commercial bank reserve loans, was last changed in April with a reduction of 0.25 percentage points.

Minutes of the Monetary Policy Committee meeting will be released in two weeks in keeping with bank policy. But the unchanged rate will sure to be questioned as lenders face liquidity problems and home equity in Britain continues to decline.

Copyright 2008 by United Press International


Publication date: 10 July 2008   

Source: UPI-1-20080710-08341800-bc-britain-boe.xml

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