Thursday, March 10, 2011

Bank of England Holds Bank Rate at 0.50%

The Bank of England held its bank rate unchanged at 0.50% and made no changes to the GBP 200 billion quantitative easing asset purchase programme. The United Kingdom reported inflation of 4.0% in January this year, which is above the Bank's official inflation target of 2.0%. The Bank determined that the balance of risks are currently weighted towards economic growth risks, rather than rising inflation, but it remains to be seen as to how long that position will last.


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