Friday, June 10, 2011

Bank of England Holds Bank Rate at 0.50%

The Bank of England (BoE) maintained the Bank Rate at 0.50% and made no changes to the GBP 200 billion asset purchase program.  The Bank does not supply commentary with its monetary policy decisions, however the minutes of the monetary policy committee meeting will be published at 9.30am on Wednesday 22 June.

Previously the Bank also held the Bank Rate unchanged at 0.50% when it met in May this year.  The United Kingdom reported annual consumer price inflation of 4.50% in April, up from 4.00% in March, and above the Bank's inflation target of 2.00%.  The UK saw quarterly GDP growth of 0.5% in Q1 this year, while annual economic growth was reported at 1.8%.


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