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Bank of England Minutes
Before turning to its immediate policy decision, and against the background of its latest projections for output and inflation, the Committee discussed financial market developments; the international economy; money, credit, demand and output; and supply, costs and prices. Financial markets Markets had generally been stable on the month, against a backdrop of relatively thin trading conditions during the holiday periods. Implied market expectations of the point at which Bank Rate would begin to rise had been pushed back, partly in response to data releases, notably the March CPI outturn. Information derived from ... (full story)