Rates held until unemployment falls

Source BBC News@ tienganhvui.com

7 August 2013 Last updated at 05:41 ET

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The Governor of the Bank of England, Mark Carney, has said the Bank will not raise interest rates until the unemployment rate has fallen to 7%.

He said that until that threshold was reached the Bank would not cut back on its £375bn asset purchase programme known as quantitative easing.

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