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Rates Freeze Likely Despite Manufacturing Gains

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The Bank of England is widely expected to freeze interest rates this week, despite more evidence that firms are taking advantage of strong demand to push up prices.

The survey comes as an overwhelming majority of City pundits expect the Bank's Monetary Policy Committee to peg rates at 5.5 per cent when its two-day meeting wraps up on Thursday. However, some warn of a back-to-back rise this week after May's increase, while most say a "no change" decision will be no more than a temporary reprieve. Financial markets have priced in 5.75 per cent rates, and 6 per cent is a very real possibility.


Edited by Jonnybegood

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