Bank of England Hold Rates Waits for Unemployment to Improve

The Bank of England has left interest rates unchanged at 0.5% and made no change to its programme of quantitative easing, as had been widely expected.

The decision came as no surprise as the Bank has said it will not consider a rate rise until the unemployment rate falls below 7%.

The focus will now switch to the Bank’s latest inflation report, due next week.

Analysts will examine the report for indications on how strongly the Bank thinks the UK economy is recovering.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza