'We still have some way to go on inflation'

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The Bank of England has held interest rates at 5.25% for the fifth time in a row.

The Bank's governor - Andrew Bailey - says the economy is still not at a stage where rate cuts can be made, but added that things are moving in the "right direction".

"We're not yet at the point where we can cut interest rates, but things are moving in the right direction," he added.

Read more: https://news.sky.com/business

#interestrates #bankofengland #economy

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