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epa04196892 (FILE) A file photo dated 22 January 2014 showing general view of the Bank of England in London, Britain. The Bank of England on 08 May 2014 held interest rates at their record low of 0.5 per cent, where they have now been kept for more than five years. It also announced that it would maintain the size of its asset-purchasing scheme, or quantitative easing programme, at 375 billion pounds (636 billion dollars). Despite recent calls for action over fears of a housing market bubble, the bank's rate setters are not expected to hike rates until next year as they seek to underpin the economic recovery. The Organization for Economic Co-operation and Development this week upgraded the country's growth forecast from 2.4 to 3.2 per cent for 2014 although it warned that action needed to be taken to prevent excessive house price inflation. EPA/FACUNDO ARRIZABALAGA