Interest rate for sixth month in a row remains steady – but cut expected soon

In a recent development, the Bank of England has shown signs of a potential cut in interest rates as a member of its Monetary Policy Committee (MPC) has voted for lower borrowing costs this month. The committee voted 7-2 to keep UK interest rates at 5.25%, but the change in voting patterns is seen as a clear indication that a rate cut could be on the horizon, possibly as early as next month.

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