Bank of England Halts Bond Sales, Keeps Interest Rates Unchanged
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The Bank of England has temporarily halted the sale of UK government bonds for six months to slow down its quantitative tightening pace. The central bank kept its key interest rate unchanged at 3.75%. However, it warned that if the conflict in the Middle East continues, it may be forced to raise interest rates. The Bank of England also announced a new long-term plan to gradually reduce its holdings of UK government bonds over the next eight years.
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