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UK Monetary Policy Unchanged – The Dismal Scientist (subscription)

Policymakers are debating the amount of slack remaining in the economy.

The Bank of England held rates at 0.5% and maintained the asset-purchase programme at £375 billion, amid lingering uncertainty about the extent of spare capacity in the economy. The unemployment rate fell to a five-year low of 6.2% in the three months to July but wage growth, …

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