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'Things moving in right direction', but it's too early to lower interest rates, says Bank of England governor

The Bank also upgraded its economic growth forecasts for the coming years, projecting annual growth rates of 0.5% by early 2025, compared with the zero growth previously expected.

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The Bank opted to leave borrowing costs on hold at 5.25% in its meeting this month, but signalled that it was now edging closer to cutting them.
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