Aug.06 — The Bank of England left interest rates and asset purchases unchanged and said it doesn’t plan to tighten policy until it’s more certain about the outlook for inflation. Policy makers expect unemployment to rise materially to about 7.5% by the end of the year and said Gross Domestic Product won’t recover to pre-Covid levels until the end of 2021. Bloomberg MLIV’s Mark Cudmore discusses the decision on “Bloomberg Markets: European Open.”
In This Story: Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.
4 Recent Items: Bank of England
In This Story: Inflation
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
5 Recent Items: Inflation
