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Bank of England pauses interest rate hikes for first time since December 2021

The Bank of England followed the U.S. Federal Reserve's lead Thursday, leaving interest rates unchanged for the first time in nearly two years, but the U.K.'s rate remains at a 15-year high of 5.25%. Martin Baccardax, senior editor and chief markets correspondent for financial news website TheStreet, joins CBS News to talk about the pause in rate hikes.
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