BoE hints at further rate rise

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The Bank of England's latest inflation report has hinted at the possibility of a further rise in the base interest rate in order to keep inflation under control.

In the report, published this morning, the Bank says the view of the Monetary Policy Committee is inflation will continue to rise above market expectations before falling back to the target of 2%, but only as a result of the rise in the base interest rate last week. And Mervyn King, governor of the BoE, says the MPC, remains "committed to take whatever action is necessary in future". The report predicts inflation may stay at its current level or even rise over the next couple of months, as higher energy prices and university tuition fees bite, before dropping back as energy and import pri...

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