Bank Of England Seeks To Assuage Rate Hike Fears
Bank of England Governor Mark Carney sought to assure homebuyers and businesses Wednesday that U.K. interest rates won’t rise any time soon due to the economic recovery still being fragile. Though headline figures for growth and unemployment have improved faster than previously predicted, Carney said there are a number of issues that will mean interest rates have to remain low for a while to come. The bank’s benchmark interest rate has been at a record low level of 0.5 percent for nearly five years.
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