Bank of England holds interest rates and asset purchases
MPC wants evidence spare capacity is being reduced but Haldane votes for lower asset purchases
The Bank of England’s monetary policy committee voted to leave interest rates and the size of its bond-buying programme unchanged today (June 24), despite an uptick in inflation.
According to the BoE’s latest data, 12-month CPI inflation rose to 2.1% in May from 1.5% in April. This is above the central bank’s 2% target and 0.3 percentage points higher than the BoE’s May inflation forecasts.
The MPC voted 9–0 to leave interest rates on hold at 0.1%, and 8–1 to keep the BoE’s asset purchase
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