IMF warns Bank of England against 'inaction' on interest rates

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IMF warns Bank of England against 'inaction' on interest rates
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Two days ahead of a Bank of England meeting, the International Monetary Fund on Tuesday called on the central bank to withdraw exceptional support.

Two days ahead of a Bank of England meeting, the International Monetary Fund on Tuesday called on the central bank to withdraw its exceptional support for the economy, though it left open the question as to timing.

The IMF said early action by the Bank of England could slow the recovery, but inaction could allow the second-round effects of inflation to proliferate.

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