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Bank of England stays on hold, hints again at 2018 rate rise
The Bank of England kept interest rates at a record low once again on Thursday and trimmed its forecasts for growth in 2017 and 2018 as the impact of Brexit weighed on households' spending power. But BoE Governor Mark Carney and his top officials reiterated their message to financial markets that they might raise borrowing costs by a bit more than investors expect over the next three years, possibly within a year. Faced with uncertainty about the impact of Brexit on the world's fifth-biggest economy, the BoE said its rate-setters voted 6-2 to keep Bank Rate at 0.25 percent, as expected by most economists taking part ... (full story)
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Monetary Policy Summary and minutes of the Monetary Policy Committee meeting ending on 2 August 2017
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 2 August 2017, the MPC voted by a majority of 6-2 to maintain Bank Rate at 0.25%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435 billion. ... (full story)
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