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Bank of England set to hold rates at record low 0.50%

A file photo shows the Bank of England in the City of London. The bank is set to keep interest rates at a record lowThe Bank of England is set to keep interest rates at a record-low 0.50 percent this week, as it eyes slowing inflation before next year’s election, analysts say. Both Britain and the separate eurozone are worried about unduly low inflation, but this is a much bigger problem in the single currency area where growth is far less buoyant. The upshot is an overall climate of talk that monetary conditions in Britain could be tightened next year, while in the eurozone they may soon be eased. The Bank of England’s rate-setting Monetary Policy Committee (MPC), which concludes its two-day September meeting on Thursday, is likely to leave its quantitative easing (QE) cash stimulus at £375 billion ($622 billion, 473 billion euros).

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