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U.K. Leaves Interest Rates Unchanged
Policymakers voted unanimously to leave left the Bank of England's prime interest rate unchanged at a record low 0.5%.
The central bank signaled that an increase by year end is likely.
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Policymakers voted unanimously to leave left the Bank of England's prime interest rate unchanged at a record low 0.5%.
The central bank signaled that an increase by year end is likely. But it also indicated it won't change the rate until inflation increases and average real wages grow. Policymakers also agreed not to inject more money into the British economy.
Inflation in the U.K. dropped to 1.5% in May, marking the sixth consecutive month below the Bank of England's 2% target.
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