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Bank of England sets interest rate at 5 percent
[19/09/2024 02:08]
LONDON-SABA
The Bank of England announced on Thursday that it will fix the interest rate at 5 percent, one month after cutting it for the first time since March of 2020.

The central bank's monetary policy committee said in a statement that eight of its nine members voted in favor of the stabilization decision based on the decline in inflation and its stability last month at 2.2 percent.

The committee confirmed that it will continue to monitor economic indicators before adopting any new rate cut. The low inflation rate will allow it to adopt a policy of cautious and slow rate cuts in the coming months.


Emirati economy grows 5.3 percent in non-oil businesses
Oil declines but stabilizes near its highest in a month
WB grants a $100 million to Madagascar
Natural gas prices in Europe decline to lowest level
U.S. federal debt exceeds $37 trillion
1.5 trillion dollars in revenue for light industry sector in China
Foreign currency reserves in Egypt increase up to $49.036 billion
GDP grows 0.1 percent in Eurozone
China's fiscal expenditure increases 3.4 pect in H1
Korea's exports shrinks 2.2 percent

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