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BoE Leaves Its Monetary Policy Unchanged

The Bank of England has held back from injecting more emergency cash into the economy. The Bank has decided to keep UK interest rates at 0.5 percent and announced no change to its quantitative easing (QE) programme. The interest rates have been at 0.5 percent since March 2009.

The Bank’s Monetary Policy Committee kept its QE stock at 325 billion pounds, after injecting 50 billion pounds in February

Despite widening debates among policy makers over the need for more stimulus, many economists had anticipated such a decision, as most expect the economy to have improved sufficiently in the first quarter, prior to the next BOE’s QE meeting that was postponed until May.

While The UK’s recovery has shown tentative signs of gathering pace, the central bank has said that the UK is unlikely to enter recession this year, forecasting growth of about 1 percent.

The focus still remains on whether further asset purchases will be announced next month.

Source: BBC [1]

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Kenny Fisher

Kenny Fisher [5]

Market Analyst at OANDA [6]
A highly experienced financial market analyst with a focus on fundamental analysis, Kenneth Fisher’s daily commentary covers a broad range of markets including forex, equities and commodities. His work has been published in several major online financial publications including Investing.com, Seeking Alpha and FXStreet. Based in Israel, Kenny has been a MarketPulse contributor since 2012.
Kenny Fisher

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