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Aug 12: King plays down early rate rise

Inflation would fall below its 2 per cent target in two years' time, if interest rates rose in line with market expectations, the Bank of England warned on Wednesday, signalling that the markets have got ahead of themselves in predicting rate rises any time soon. Daniel Pimlott, economics reporter, talks to Daniel Garrahan about the Bank's quarterly inflation report and the increase in unemployment in the UK.