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Tags: Britain | Economy

Bank of England Maintains Rates, Voices Optimism on Recovery

Bank of England Maintains Rates, Voices Optimism on Recovery

Thursday, 06 May 2021 08:01 AM

LONDON (AP) — The Bank of England will keep interest rates on hold and has grown more optimistic about the economic recovery in the U.K. as a result of the rapid rollout of coronavirus vaccines.

In a prepared statement Thursday, the nine-member Monetary Policy Committee said it will maintain the bank's main interest rate at 0.1%. The unanimous and widely anticipated decision means that interest rates will remain at the lowest level in the bank's 327-year history.

Alongside its decision, the bank's rate-setting panel said growth is likely to be greater than it previously thought in the coming quarters largely due to the rapid rollout of COVID-19 vaccines, and that the easing of lockdown restrictions should spur consumer spending.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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The Bank of England will keep interest rates on hold and has grown more optimistic about the economic recovery in the U.K. as a result of the rapid rollout of coronavirus vaccines.In a prepared statement Thursday, the nine-member Monetary Policy Committee said it will...
Britain,Economy
118
2021-01-06
Thursday, 06 May 2021 08:01 AM
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