“Bank of England policy makers maintained stimulus for the economy after Governor Mervyn King concluded his last policy meeting surveying a recovery that’s not yet strong enough to warrant the “escape velocity” sought by his successor, Mark Carney.
The nine-member Monetary Policy Committee held its target for bond purchases at 375 billion pounds ($580 billion), in line with the median estimate in a Bloomberg News survey of 43 economists. The meeting was King’s 194th, and he will hand Carney on July 1 an economy thatresumed growth in the first quarter and may have picked up in the current period….”
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