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Five years of 0.5% rates, at least one more to go

March’s Monetary Policy Committee (MPC) meeting will mark the fifth anniversary of interest rates falling to their record low of 0.5% in 2009. Since the MPC only set out its new guidance last month, this week’s meeting is likely to pass without event. But the minutes of the meeting may well contain further signs that disagreement amongst members regarding the amount of spare capacity in the economy is building.

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