Friday, February 11, 2011

Bank of England Holds Monetary Policy

The Bank of England (BoE) maintained its monetary policy stance; holding the benchmark interest rate at 0.50 percent, and the asset purchase program at GBP 200 billion. The move was widely expected, but the BoE is likely to come under increasing pressure on inflation (which is currently above the 2% inflation target). The UK saw inflation of 3.7% in December 2010. The BoE is scheduled to release the minutes of its monetary policy meeting on the 23rd of February 2011.


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