Bank of England keeps rates on hold, watches for recovery rebound
London
THE Bank of England kept interest rates at a record low of 0.5 per cent on Thursday as it waited to see how quickly Britain's economy recovers from a surprisingly sharp slowdown earlier this year.
Investors do not expect the BoE to raise rates until 2016 - seven years after it cut them to steer Britain through the financial crisis - in large part because of the plunge in oil prices which took Britain's inflation rate below zero in April.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
BOE postpones Long-Term Repo Operation due to tech issues
Macron seeks to charm China’s Xi into trade concessions in Pyrenees jaunt
Taiwan inflation drops below key threshold, easing rate concerns
Iran using Malaysian providers to bust oil sanctions: US official
China’s central bank adds more gold to its reserves in April
Wall Street bonuses to rise this year as deals return, says report