The Bank of England kept official interest rates unchanged at 5 percent at its monthly rate-setting meeting on Thursday despite a looming domestic recession.
The central bank's decision was widely expected by economists given its remit to keep inflation at the government's 2 percent target rather than to stimulate growth.
Inflation is currently running well above that level _ at 4.4 percent _ thanks in part to imported high energy and food prices.
However, many economists expect interest rates to come down before the end of the year as inflationary pressures ease, paving the way for the bank to act on its concerns about the state of the …
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