The European Central Bank and the Bank of England are facing different challenges as they set monetary policy. In the eurozone, where the ECB has kept interest rates constant, inflation is at 1.1%, less than a 2% target. However, growth in Spain and Italy remains difficult to detect. In the UK, growth has been stronger than expected, and inflation has topped 2% since 2009. However, the BoE is considering more support, such as keeping rates low longer.

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