3: Carney: Rates to stay at 0.5% until unemployment drops below 7%

When will the Bank rate rise? That is the question on many people’s lips, although before August, when new Bank of England governor Mark Carney launched his programme of forward guidance, trying to predict when rates would rise would have been a fool’s game. While there is still an element of guesswork going on, the UK has a rough idea of any future rate change for the first time in its history.

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