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Bank of England keeps rates unchanged as UK inflation rises
The decision came even after UK inflation rose to 3.1%, with energy costs adding pressure on prices, according to CNBC Economy.
The Bank of England held its policy rate steady, choosing not to follow the rate-hike direction that the Fed has taken, CNBC Economy reports.
The central bank’s pause followed new data showing UK inflation at 3.1%, alongside ongoing pressure from energy costs on overall prices.
CNBC Economy said the BoE left rates unchanged despite the inflation backdrop.
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