The Bank of England has left interest rates on hold for the third successive meeting, insisting that it is determined to keep borrowing costs at their 5.25% level for some time. Unlike the Federal Reserve, which dropped heavy hints at its latest meeting yesterday that it is preparing for multiple cuts in US interest rates next year, their British counterpart indicated that that moment is not yet close in the UK. Three members of the Bank's monetary policy committee (MPC) voted for an increase in borrowing costs, but they were outvoted by the remaining six members. The Bank also left the language in its minutes - often examined…
