BoE sees no immediate inflation threat

The Bank of England says there is no immediate inflation threat despite oil and house price rises in recent months, opening the way for continued loose monetary policy. The outlook will ease fears of interest rate rises in the near future as the bank says it does not see inflation rising above the 2.5% target anytime within the next 18 months. The bank says there are signs that economic recovery is under way in the US, but that the situation in Europe and Japan is harder to guage. It adds that the fourth quarter of last year marked the low point of the current economic cyc...