Bank of England (BoE) governor Mark Carney said in the latest quarterly inflation report that the base rate of 0.5% is unlikely to rise before unemployment tumbles to 7%. This is something not expected to happen until 2016. The jury is still out on what that means for saving, spending, and growth.
The detail Three ‘knockout' caveats included in the forward guidance render Carney's strategy conditional. It is dependent on inflation staying within 0.5 percentage points of the Bank's 2% tar...
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