Friday October 23, 2020

Bank of England to hold rates as unemployment drops

The Bank of England signalled it’s willing to wait until next year to raise interest rates even as the British economy strengthens and the amount of spare capacity narrows.

14th May, 2014
Britain’s recovery is gathering pace.

The Bank of England signalled it’s willing to wait until next year to raise interest rates even as the British economy strengthens and the amount of spare capacity narrows.

Based on investor expectations that the first tightening won’t happen until the second quarter of 2015, the central bank sees inflation staying close to its 2 per cent target over the next three years. It forecasts price growth of 1.8 per cent this year...

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