Officials kept rates at their highest level since 2008 for a seventh consecutive meeting, even as inflation dipped to 2 percent in May.

The Bank of England held interest rates on Thursday at their highest level since 2008 even as inflation in Britain slowed to 2 percent in May, an important milestone.

Policymakers kept rates at 5.25 percent, where they have been for 10 months. The officials said that high rates were working and cooling the labor market, reducing price pressures, but they added that monetary policy would need to stay restrictive until they were sure the risk of inflation’s overshooting their target had dissipated.

“It’s good news that inflation has returned to our 2 percent target,” Andrew Bailey, the governor of the Bank of England, said in a statement. “We need to be sure that inflation will stay low, and that’s why we’ve decided to hold rates.”

As inflation has slowed around the

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