May

Bank Rate held at 0.1% with inflation and GDP forecasts slashed

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The Bank of England Monetary Policy Committee (MPC) voted unanimously yesterday to hold the Bank Base Rate at 0.1% . They also voted 7-2 for the Bank of England to continue with the programme of £200 billion quantitative easing.

CPI inflation fell below the medium term target of 2% to 1.5% in March and is likely to fall below 1% in the next few months reflecting large decreases in energy prices.

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