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The Bank of England keeps UK interest volumes on hold
(MENAFN) The Bank's Monetary Policy Committee chosen by a majority of 6-3 to keep the bank rate at 4.75 percent, however, three lawmakers desired to lower volumes to 4.5 percent.
"Since the MPC’s previous meeting, twelve-month CPI inflation has increased to 2.6 percent in November from 1.7 percent in September. This was slightly higher than previous expectations, owing in large part to stronger inflation in core goods and food," the bank noted.
"Services consumer price inflation has remained elevated. Headline CPI inflation is expected to continue to rise slightly in the near term. Although household inflation expectations have largely normalized, some indicators have increased recently," it also said.
The Bank further elevated worries regarding a failing UK economy, as many factors of near-term actions have dropped in late weeks.
It emphasized that GDP development in the last months of the year is projected to be lower than lastly anticipated in the previous year Monetary Policy Report. Bank employees have changed their estimates downward, indicating to rising economic issues.
"Since the MPC’s previous meeting, twelve-month CPI inflation has increased to 2.6 percent in November from 1.7 percent in September. This was slightly higher than previous expectations, owing in large part to stronger inflation in core goods and food," the bank noted.
"Services consumer price inflation has remained elevated. Headline CPI inflation is expected to continue to rise slightly in the near term. Although household inflation expectations have largely normalized, some indicators have increased recently," it also said.
The Bank further elevated worries regarding a failing UK economy, as many factors of near-term actions have dropped in late weeks.
It emphasized that GDP development in the last months of the year is projected to be lower than lastly anticipated in the previous year Monetary Policy Report. Bank employees have changed their estimates downward, indicating to rising economic issues.
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