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BoE holds rate at 0.5% but says increases are likely

The Bank of England has voted unanimously to maintain the bank rate at 0.5% but says interest-rate increases likely will come sooner than expected. "Were the economy to evolve broadly in line with the February Inflation Report projections, monetary policy would need to be tightened somewhat earlier and by a somewhat greater extent over the forecast period than anticipated at the time of the November Report," according to the Monetary Policy Committee.

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