The BOE said the annual rate of inflation will remain above its target for longer than expected, but it won't tighten monetary policy and risk derailing a recovery.

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He warned that a "premature tightening of monetary policy" would risk "slowing or ending the economic recovery".

BBC: US Fed's Ben Bernanke hails benefits of stimulus

What we need is an independent Fed that deals with two subjects: systemic risk and monetary policy.

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