Rates held until unemployment falls

7 August 2013 Last updated at 05:41 ET

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LIVE: Bank of England governor's inflation report

The Governor of the Bank of England, Mark Carney, has said the Bank will not raise interest rates until the unemployment rate has fallen to 7%.

He said that until that threshold was reached the Bank would not cut back on its £375bn asset purchase programme known as quantitative easing.

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