London | The Bank of England has stepped aside from its rate-cutting peers in the US and Europe, leaving its benchmark interest rate unchanged at its pre-Christmas meeting.
The cautious BoE, which had cut rates in August and November, responded to a pick-up in wages and prices last month, suggesting inflation might not be fully back in its box.
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Hans van Leeuwen is The Australian Financial Review’s former Europe correspondent. He is now International Economy editor for The Telegraph UK.
