Thursday, September 04, 2008

Bank of England Leaves Rates unchanged

The Bank of England left rates unchanged expected at 5%. This result was well built into the market and was one of the reasons that the "pound" has been under such pressure of late.

They did not release a statement yet, so there is no way of knowing what the vote was.

I think the over riding reason for that no change is the ever increasing slowdown in the UK economy. As in the States I think rates are on hold for the near term future.

Here is the BLOOMBERG story



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