Since the Bank of England's last economic projections, inflation has weakened, economic activity has softened and the labor market has shown signs of loosening.
Two-year U.K. gilt yields slid to their lowest point since June ahead of the Bank of England's decision on Thursday. Yields move inversely to prices.Bank of England
on Thursday left interest rates unchanged, but said monetary policy will likely need to stay tight for an "extended period of timeThe Monetary Policy Committee voted 6-3 in favor of keeping the main Bank rate at 5.25%, with three members preferring another 25-basis point hike to 5.5%. "The MPC's latest projections indicate that monetary policy is likely to need to be restrictive for an extended period of time. Further tightening in monetary policy would be required if there were evidence of more persistent inflationary pressures," the MPC said in its Thursday statement.
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Bank of England holds rates in 6-to-3 voteSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: MKTWgoldstein.
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Bank of England keep rates at 15-year high, rules out quick cuts to help economyBank of England keep rates at 15-year high, rules out quick cuts to help economy
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Bank of England set to hold rates again, but markets see no cuts on the horizonThe Bank of England is widely expected to keep interest rates unchanged on Thursday as data continues to show moderating price pressures and weakening economic…
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