Economists said the Bank of England's Monetary Policy Committee likely will continue its £175 billion bond-buying initiative while holding the key interest rate at 0.5%. "The bank is waiting to see how things pan out," said Jonathan Loynes, an economist at Capital Economics. "It's the outlook for the economy that matters, and that's not showing signs of picking up." Some economists said the BoE could decide to lower the rate it pays banks on reserves they hold at the central bank to encourage lending.

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