Bank of England handed new remit

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The Bank of England's (BoE) Monetary Policy Committee (MPC) may deploy "explicit forward guidance" as part of a new remit unveiled by the UK chancellor today.

Delivering his budget for the next fiscal year, George Osborne asked the MPC to consider deploying explicit forward guidance - including the use of intermediate thresholds - to influence expectations on the future path of interest rates. The MPC has been asked to provide an assessment of the suitability of the policy alongside its inflatio

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