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With the British economy in its deepest trouble since the global financial crisis in the wake of the vote to leave the European Union, the Bank of England is expected to unveil Thursday stimulus measures including a rate cut and, possibly, the creation of billions in new money. Early indicators since the June 23 vote suggest that the economy is contracting at its sharpest rate since 2009 . As a result, the Bank of England is expected to cut its key interest rate from a record-low 0.5 percent Thursday, diverging from policymakers at the U.S. Federal Reserve who in December raised their benchmark for the first time in seven years. The bank may also expand its stimulus program called quantitative easing under which it buys government bonds from banks with newly created money, effectively pumping extra money into the economy.
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