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What will be the UK GDP growth rate in Q1 2025?
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Official GDP growth rate reports published by the Office for National Statistics
Story
Bank of England Holds Rate at 4.75% Amid 6-3 Split Vote
Dec 19, 2024, 12:04 PM
The Bank of England has held its main interest rate at 4.75%, as expected, despite an uptick in inflation in November. The Monetary Policy Committee (MPC) voted 6-3 to keep the rate unchanged, with three members, including the Deputy Governor, voting for a rate cut. Policymakers have become more divided over the need for rate cuts to address a slowing economy, as the Bank downgraded its growth forecast for this quarter to zero.
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