BoE hold rates at 0.5%

News from CFM (UK) Ltd: Interest rates have been held at 0.5% again by the Bank of England's Monetary Policy Committee. MPC members voted 8-1 to keep rates on hold, with only Ian McCafferty voting to raise rates. The decision marks the 78th consecutive month of record-low interest rates. In its report, it said the outlook for inflation was "muted". Many economists had anticipated that two or three policymakers would vote for a rate increase. But a collapsing stock market in China and ongoing talks over Greece's debts mean the outlook for global growth is muted. The BoE said it expected inflation to be back to its 2% target in two years' time. That is the same forecast it made in May.

The Daily Telegraph, Business, Page: 29   Daily Mail, Page: 2   Financial Times    The Independent, Page: 55    Yorkshire Post, Page: 1-2   The Sun, Page: 8

Posted by Gordon on August 7th 2015

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