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Bank of England paves way for first rate hike in a decade

Reuters  |  LONDON 

By David Milliken and William SchombergLONDON (Reuters) - The Bank of England said it was likely to raise interest rates in the coming months if the economy and price pressures keep growing, giving its clearest signal to date that Britain's first rate hike in a decade is approaching.The BoE said its tolerance for above-target inflation was lessening even if Britain's departure from the European Union remained a risk. Data this week showed prices rising faster and unemployment falling to a four-decade low. Policymakers voted 7-2 on Thursday to keep rates on hold at a record-low 0.25 percent, ...

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First Published: Thu, September 14 2017. 21:51 IST