BBC News - UK interest rates held until unemployment falls
The new Bank of England governor, Mark Carney, has said the Bank will not raise interest rates until the unemployment rate has fallen to 7%.
The UK unemployment rate currently stands at 7.8%.
He said that until that threshold was reached the Bank would not cut back on its £375bn asset purchase programme.
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So there could be more QE. And if unemployement stays high then inflation can go as high as it likes. Or have I got that wrong?
The new Bank of England governor, Mark Carney, has said the Bank will not raise interest rates until the unemployment rate has fallen to 7%.
The UK unemployment rate currently stands at 7.8%.
He said that until that threshold was reached the Bank would not cut back on its £375bn asset purchase programme.
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So there could be more QE. And if unemployement stays high then inflation can go as high as it likes. Or have I got that wrong?
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