Financial Times FT.com

Central banks hold rates steady

By Gerrit Wiesmann in Frankfurt and Delphine Strauss in,London

Published: August 8 2008 03:00 | Last updated: August 8 2008 03:00

The European Central Bank and the Bank of England left interest rates unchanged yesterday as signs of slowing economic growth left them little room for a tougher stance against rising inflation in the eurozone and the UK.

The ECB warned that the rate of price rises remained a real concern, and economists ex-pected the Bank of England also to leave a back door open for rate increases when it publishes the minutes from yesterday's meeting in late August.

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