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Bank of England set to sit tight on 0.5% rate

Governor of the Bank of England Mark Carney addresses a news conference in London on May 14, 2014The Bank of England is again set to leave its key interest rate at a record low of 0.50 percent Thursday after it launched measures to cool Britain’s housing market. The BoE is forecast also to leave its level of cash stimulus, or quantitative easing, pumping around the economy at £375 billion ($642 billion, 472 billion euros). This week’s meeting of the bank’s Monetary Policy Committee (MPC) “seems unlikely to be a major step towards higher interest rates”, said Samuel Tombs, senior economist at Capital Economics consultants.

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