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Minutes of the Bank of England Monetary Policy Meeting
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. Market participants had been focusing on changes, and prospective changes, in policy in the major economies. Short-term interest rates derived from six-month overnight index swaps (OIS) had decreased by around 10 basis points in the United Kingdom to 0.3%, which appeared to reflect expectations that the Committee might at some point reduce Bank ... (full story)
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