Bank of England votes to keep interest rates at their record low level of 0.1%, spurning calls for an increase to tackle surging inflation
The Bank of England has voted to keep interest rates at their record low level of 0.1%, spurning calls for an increase to tackle surging inflation.Rates were cut to their current level in March last year in response to the effects of the coronavirus pandemic.
But the reopening of the economy has fuelled price rises, prompting expectations that the Bank would increase borrowing costs.
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