Bank of England freezes interest rates

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The Bank of England is to keep interest rates at 0.5 percent over concerns regarding the extent to which the UK economy is to recover over the coming months. This decision, which was made by the MPC (Monetary Policy Committee, a combination of independent financial advisors and government officials), effectively means that interest rates will remain at record low levels for an extra month.

The Consumer Price Index, which measures the average price of services and goods bought by More