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. Last Updated: 07/27/2016

British Interest Rates

LONDON () -- Chancellor of the Exchequer Kenneth Clarke is likely to reject any calls by Bank of England Governor Eddie George for higher interest rates at their monthly monetary meeting Wednesday, economists said Tuesday.

At the last monetary meeting, George stated his preference for official rates to be raised to 6.0 percent from 5.75 percent. The base rate has been at 5.75 percent since it was cut by 0.25 percent in early June, the fourth cut in rates since last December.