BoE keeps interest rates unchanged, expands APP

Thursday, 18. June 2020 13:01

The Bank of England announced on Thursday that it is keeping the interest rates unchanged. The central bank's Monetary Policy Committee voted yesterday unanimously to maintain the Bank Rate at 0.1%. The MPC voted 8-1 to increase the stock of United Kingdom government and corporate bond purchases to £745 billion.

The BoE commented that sentiment in consumer spending and services output. However, central bankers noted the economic outlook, both for the UK and for the entire world, is "unusually uncertain." Nevertheless, projections for the second quarter are more optimistic than in the May Report.

The MPC added that it is monitoring the situation closely and will continue to work towards returning to its goal of 2% inflation.

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