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IMF warns Bank of England against inflation inaction ahead of key vote
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LONDON — The International Monetary Fund has urged the Bank of England to avoid «inaction bias» as it gears up for a key vote Thursday on when to hike interest rates in the face of high inflation.
The Bank's Monetary Policy Committee surprised markets in November by voting 7-2 to keep its benchmark interest rate at its historic low of 0.1%. Governor Andrew Bailey acknowledged that the «warning signs are there» on inflation, but said policymakers would need to see more data from the labor market
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