BoE says rates will remain low if unemployment is high

08/8/2013 | CNNMoney

The Bank of England says in its first "forward guidance" that it will not raise interest rates until unemployment reaches 7%, which the central bank expects in about three years. "Our biggest concern at this stage ... is the possibility that as the recovery gathers pace, there is an unwarranted change in expectations about the pace of withdrawal of monetary-policy stimulus," Governor Mark Carney said.

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