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UK central bank raises growth forecasts, says rates need to rise faster

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BoE governor Mark Carney speaking during the bank's quarterly inflation report news conference on Feb 8. The BoE lifted its forecasts for economic growth and suggested it may need to raise interest rates faster than previously indicated.

London

THE Bank of England (BoE) said on Thursday interest rates probably need to rise sooner and by a bit more than it thought three months ago, after it raised its growth forecasts for Britain due to the strong global recovery.

The BoE's rate-setters voted 9-0 to hold Bank Rate

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