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Sounds like the Bank is prepared to tolerate a mild recession, is that the case?

BOE

Broadbent: There is no threshold for the Bank of England. What matters is what it does for inflation. Can't pretends its irrelevant, but there is no threshold at 0% - it's a continuum. If you look at the things important for policy - slack in the labour market, wages, services prices - they respond to growth in the econonmy.

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