Bank of England holds rates amid stronger growth and inflationary outlook

QE held at current pace but BoE signals tapering

Mike Sheen
clock • 2 min read
The interest rate will remain at 0.1%

The interest rate will remain at 0.1%

The Bank of England’s Monetary Policy Committee has voted unanimously to hold its key interest rate at 0.1%, with the central bank now forecasting a stronger outlook for GDP growth and inflation.

GDP growth is now expected to reach 7.3% in 2021, while the inflation rate expected to jump from 0.7% closer to the bank's 2% target in Q2 and Q3, according to the May MPC report. The bank also voted...

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