In an unexpected turn of events, the Bank of England (BoE) has decided to maintain the interest rate at the current level of 5.25%. The decision comes amid a tumultuous financial climate, with inflationary pressures and economic growth concerns weighing heavily on policymakers. Mortgage lenders, who had been anticipating changes that could affect borrowing costs and the housing market, now seemingly take a momentary respite to assess the implications of this steady rate.
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