Bank of England holds interest rates
Published September 6th, 2007
he Bank of England on Thursday took the rare step of issuing a statement alongside a decision to keep interest rates steady, as it fights market criticism over its handling of the world credit squeeze.
The BoE left its key interest rate at 5.75 percent for a second month in a row, as expected, and said it was “too soon” to judge the full economic disruption of tighter lending that has emerged owing to a collapse of the US subprime mortgage market.
The decision by the BoE’s nine-member Monetary Policy Committee (MPC) came shortly before the European Central Bank (ECB) held its key interest rate at 4.00 percent.
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