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BOE Says Global Turmoil Hasn’t Shaken Its Economic Outlook
Bank of England policy makers said the U.K. economy’s prospects remain positive and recent market turmoil related to China’s slowdown hasn’t shaken their view that the time for a rate increase is approaching. The nine-member Monetary Policy Committee voted 8-1 this week to keep its benchmark interest rate at a record-low 0.5 percent, with only Ian McCafferty dissenting. In their discussion, officials said any external headwinds must be “weighed against the prospects for a continued healthy domestic expansion.” “Global developments do not as yet appear sufficient to alter materially the central outlook ... (full story)
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