Bank of England signals summer cut as it holds rates at 5.25%

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The Bank of England signalled it would cut rates this summer if inflation stays low, even as it kept borrowing costs at a 16-year high.

The BoE’s Monetary Policy Committee voted by seven to two to keep the benchmark rate at 5.25 per cent on Thursday, with deputy governor Sir Dave Ramsden joining external member Swati Dhingra…