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Bank Rate stays at 0.5% for 50th month

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The Bank of England

Its decision is in line with predictions that the Bank Rate will remain unchanged until 2016.

It is the 50th month the Bank Rate has remained unchanged.

“There had been little change in short term monetary conditions in the United Kingdom and policy was expected to remain highly stimulatory for some years,” according to the minutes of the MPC’s meeting.

Funding for Lending and quantitative easing were likely to support a gradual recovery despite subdued lending figures, it suggested.

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