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UK economy shows no growth

sterling

The UK economy saw no growth in the second quarter of this year.

Data from the Office for National Statistics (ONS) showed growth was 0% in the second quarter which was even lower than the 0.3% figure for the first quarter of 2008.

Some analysts think the Bank of England may cut interest rates as a result.

However, they continue to believe the UK economy is headed for a recession (two quarters of negative growth).

The Bank of England will announce the next interest rate on October 9.

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