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The Bank of England (BoE) Governor Mark Carney said before the Treasury Select Committee on Tuesday that conditions for an interest rate hike were not met yet.
"My sense of the reporting was that it correctly identified the conditions that would be required for an interest rate hike hadn't come into play, and that those conditions are not yet in place," he said.
Carney noted that low oil prices support the economy in the medium term.
He pointed out that he will by the end of the year whether he will stay for a longer period as governor of the BoE.
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