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Interest rates kept on hold

The Bank of England has announced that interest rates will stay on hold at 5.25%.

Analysts have highlighted that the Bank faces the threat of a slowing economy at a time when inflationary pressures are rising.

In February, the bank cut rates by a quarter of a percentage point from 5.5%, amid signs of a slowdown in the economy.

February's interest rate cut was the second lowering of UK rates in three months, with the previous reduction coming in December last year.

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