The Bank of England has left the main rate at around 0.75%. The decision was made during the meeting on 1 November.
Procurement volumes of government and corporate bonds were also maintained, meeting the experts’ expectations.
The bank has reduced its outlook for the economic growth in 2018 and 2019 – to 1.3 and 1.7%, respectively. The forecast for the year 2020 has remained the same – 1.7%.
Inflation in the country will remain at the level of more than 2%. The Central Bank stressed that the economic overheating should be expected next year. That’s why the need to increase the rate may arise earlier than expected.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade