Interest rates held for second month running

By FWi staff

THE Bank of England has left interest rates unchanged for the second month in succession.

The banks Monetary Policy Committee announced today that the cost of borrowing would be pegged at 7.5% for the time being.

But officals have warned that a reduction is out of the question until the upward pressure on wage inflation is reduced.

Interest rates have been increased six times since Labour came to power in May last year.

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