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Article: Rates stay at 4 per cent as share woe hits home
- Article from:
- Evening News - Scotland
- Article date:
- July 4, 2002
CopyrightCopyright 2002 Evening News - Scotland. Provided by ProQuest LLC. (Hide copyright information)
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INTEREST rates were pegged at four per cent for the eighth month
in a row today as concern about stockmarket turmoil and weak
inflation outweighed concerns over soaring house prices.
Concluding their two-day meeting at lunchtime today, members of
the Bank of England's Monetary Policy Committee voted in favour of
leaving rates at 38-year lows, as signs of a slowing in the service
sector emerged along with evidence that consumer spending may be
coming off the boil.
Despite figures out today from the Halifax showing that house
prices were still rising by nearly 20 per cent a year, the MPC was
more concerned about the weakness of the economic recovery than the
strength of the interest ...