6 June 2002, 15:03  BoE holds repo rate at 4.00 pct for seventh straight month

LONDON (AFX) - The Bank of England announced that its Monetary Policy Committee has decided to hold its repo rate at 4.00 pct. There was no statement accompanying the decision -- the seventh successive month in which MPC has held rates, having previously cut rates by a cumulative 100 basis points since the September 11 attacks on the US in an attempt to shore up the UK economy. The decision was widely expected. Of 24 economists polled by AFX News last week, 21 had envisaged rates being held, with just 3 forecasting an increase to 4.25 pct. The minutes of today's meeting will be published on June 19.

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