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BoE holds off on rates rise for now

Bank of England - Rates stay at 4.75%
Bank of England - Rates stay at 4.75%

The Bank of England has kept British interest rates at 4.75% for the seventh month in a row.

The decision was widely expected, though many economists expect the central bank to hike borrowing costs again by the middle of the year.

The BoE issued no statement today to explain its decision.

Economists believe the bank may want to wait for more economic figures, given the confused picture in recent weeks. While the British economy is growing strongly, there are question marks about the pace of consumer spending and the housing market.