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Wednesday, February 12, 2014

Bank of England's Forward Guidance

Mark Carney, Governor of The Bank of England, is due to issue the Bank's inflation report at 10:30 today.

Mr Carney is expected to alter the Bank's forward guidance, and adjust the rate of unemployment that will trigger a rise in rates.

Six months ago Mr Carney unveiled the Bank's policy, that stated that interest rate rises would only be considered after unemployment fell to 7% (this was not expected until 2016. However, unemployment is now at 7.1%.

Pundits expect the trigger rate of unemployment to be reduced to between 6% and 6.5%.

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