The wait-and-see stance from the MPC contrasted with the European Central Bank’s decision yesterday to raise benchmark interest rates in the 17-nation eurozone from 1% to 1.25%. This rate rise is likely to put further pressure on the troubled economies of Ireland, Greece and Portugal.
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UK rates held amid growing doubts over recovery
THE Bank of England's Monetary Policy Committee yesterday held UK base rates at a record low of 0.5% amid a slew of indicators which cast doubt on economic recovery prospects.
