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BoE Maintains Interest Rate at 3.75%
The Bank of England has kept the interest rate unchanged at 3.75% for the second consecutive time, as the UK economy faces greater challenges in controlling inflation. The decision aims to strike a balance between curbing inflation and maintaining economic growth, amid expectations that inflation may not reach the target level and to prevent the European economy from entering a recession. Meanwhile, the European Central Bank decided to hold the interest rate steady at 2.75% in an attempt to achieve a similar balance within the Eurozone.
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