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BOE Defies Bets on a Rate Hike as Bailey Echoes Fed’s Jobs Focus

  • Policy makers voted 7-2 to hold benchmark rate at 0.1%
  • But say tightening needed in coming months to curb inflation
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BOE's Bailey Says Decision Not 'Unreliable Boyfriend'Source: Bloomberg
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The Bank of England defied market expectations by keeping interest rates on hold, putting its credibility on the line as it chose to prioritize the risks to economic growth instead of inflation.