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Bank of England's Carney says now not the time to raise rates
Now is not the time to raise interest rates, Bank of England Governor Mark Carney said on Tuesday, warning of weak wage growth and a likely hit to incomes as Britain prepares to leave the European Union. Monetary policy cannot prevent the weaker real income growth likely to accompany the transition to new trading arrangements with the EU. Last week, three BoE policymakers of the eight on the Monetary Policy Committee unexpectedly voted to raise interest rates.
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