Interest rate stays at 6%

6 July 2000

Interest rate stays at 6%

THE UK base interest rate remains unchanged at 6% for the fifth month running.

The decision, by the Bank of England Monetary Policy Committee, was widely anticipated, despite the strength of Sterling.

The strong Pound has prompted calls from industry, including hard-pressed farmers, for the rates to be lowered.

Farmers have long argued that the high Pound makes it hard to compete in export markets, and pulls in cheap imports.

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