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BoE hold firm at +0.5%

The Bank of England has voted to keep interest rates on hold at 0.5% amid concerns over the strength of the economic recovery.

The decision by the bank’s Monetary Policy Committee (MPC) means rates will stay at their current record low for an 18th month.

The Bank’s programme of quantitative easing also remains on hold.

Inflation is still well above the bank’s target rate of 2% on the Consumer Prices Index (CPI) measure.

Last month CPI was at 3.2%, though it has been falling in recent months, and the Bank expects inflation to fall to close to the 2% target this year.

BBC News

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May
24
Today’s Global
Market Events
8:30am

CAD
Corporate Profits q/q
9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
Unemployment Claims
372K vs. 370K
USD
Durable Goods Orders m/m
0.5% vs. -4.0%
9:00am

EUR
ECB President Draghi Speaks
EUR
Belgium NBB Business Climate
-10.6 vs. -10.7
10:30am

USD
FOMC Member Dudley Speaks
USD
Natural Gas Storage
77B vs. 61B
1:00pm

USD
FOMC Member Dudley Speaks
3:00pm

USD
Treasury Sec Geithner Speaks
7:30pm

JPY
Tokyo Core CPI y/y
-0.5% vs. -0.5%
JPY
National Core CPI y/y
0.1% vs. 0.2%