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Interest rates kept on hold by Bank of England

Fears of a back-to-back rise in UK interest rates proved unfounded yesterday when the Bank of England stood pat, but economists and business leaders warned it might prove only a temporary reprieve.

FEARS of a back-to-back rise in UK interest rates proved unfounded yesterday when the Bank of England stood pat, but economists and business leaders warned it might prove only a temporary reprieve.

Sterling tumbled after the interest rate announcement at noon.