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Bank of England holds bank rate
The Bank of England’s Monetary Policy Committee has voted unanimously to maintain Bank Rate at 0.25%.
However the MPC now expects inflation to rise to the 2% target within six months – quicker than expected – after rising to 1.2% in November.
In the November Inflation Report, the Committee said that output was expected to grow at a moderate pace in the near term, but slow from the beginning of next year.
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