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Independent: Housing Goes Into Reverse

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Bank keeps rates on hold as house prices go into reverse

By Sean O'Grady, Economics Editor

Published: 05 October 2007

The Bank of England's Monetary Policy Committee held interest rates at 5.75 per cent yesterday, defying calls from groups such as retailers for a base rate cut. There was no accompanying statement explaining the decision, though the Bank will publish minutes of the MPC's meeting later this month.

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