Analysts estimate that the Bank of England (BOI) has maintained its base interest rate at 0.10% and its quotas level (QE) at $ 895 billion. According to a statement issued after the end of the monetary policy meeting on Thursday, all nine leaders of the Bank of England were unanimous in maintaining the base interest rate. In the case of the QE program, the vote was 8 to 1.
In that report, the BoE estimates that the UK’s economic growth outlook has improved since the release of its final forecasts in February, thanks to the strong pace of the vaccine against the Covid-19 vaccine and the fact that this activity has been more flexible than predicted by the regulatory measures that the British government believes will be suspended by the end of June.
“New Govt cases in the United Kingdom continue to fall, the vaccination program is advancing rapidly and restrictions on economic activity are being relaxed,” the British BC said.
BoE raised its UK growth forecast for this year to 5% to 7.25%. On the other hand, it reduced the forecast that British gross domestic product (GDP) would rise from 7.25% to 5.75% by 2022.
The British Central Bank has forecast that the British consumer inflation rate for the year will be temporarily higher than the official target of 2% by the end of the year. The Monetary Commission has forecast that inflation will remain at 1.9% in the second quarter of 2024, despite a second rate hike until the end of the second quarter of 2023. Next year.
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Henry Blackwell is a contributor at Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. His work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism.