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Policymakers fear 'false dawns'.

BANK of England rate-setters are fearful of "false dawns" despite more positive signs for the struggling UK economy, it was revealed yesterday.

The Bank's Monetary Policy Committee (MPC) voted unanimously to keep interest rates at their 0.5% record low and continue with its pounds 175bn programme to boost the money supply at its meeting two weeks ago.

Although rising house prices and stock markets gave "promising indications", ratesetters are worried over an "uncertain" recovery.

"The lesson from previous financial crises was that they were not resolved quickly, and that there could be false dawns," minutes of the meeting said.

The Bank said returning confidence could spark a "virtuous upward spiral".
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Publication:Daily Post (Liverpool, England)
Date:Sep 24, 2009
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