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Interest rates may not rise

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A significant slowdown in the UK service sector in August may stay the hand of the Monetary Policy Committee (MPC) when it meets to decide the next interest rate move this today.

Following last month’s 0.25% hike to 4.75%, analysts have been predicting a further rise in the cost of borrowing, possibly in November.

But early indications of a possible cooling down in the UK economy come Autumn may now mean that interest rates are kept on hold for the foreseeable future.

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