World Business Briefing: Britain: Interest Rate Left Unchanged
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The Bank of England held its benchmark interest rate steady at a six-year high of 5.5 percent after reports that price inflation is slowing in the services and housing sectors. The bank raised rates last month after three other rises since August apparently failed to cool inflationary pressures and a buoyant housing market. Even after the European Central Bank raised rates Wednesday by a quarter-point, to 4 percent, Britainâs rates remain the highest among the worldâs seven wealthiest nations. Most economists expect a rise of a quarter of a percentage point next month in British rates. as the Bank of England tries to bring consumer price index inflation back to its 2 percent target from its current level of 2.8 percent.
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The Bank of Japan left its policy rate target unchanged at 0.5 percent on Friday as expected.
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The Bank of Japan kept interest rates steady on Thursday in its first unanimous decision since June, after a drop in business confidence signaled that companies were bracing for slower growth.
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The Bank of England today held the base interest rate at 4.75% for the fourth consecutive month, with the decision coming amid evidence of a slowdown in house price growth and weak economic data.
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The pound held firm against the dollar and euro on Friday after a robust wages survey indicated that the Bank of England will continue to trim interest rates as it tries to keep a grip on inflationary pressures in the British economy.
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UK interest rates are expected to remain on hold at 4.75% following the Bank of England's latest rate-setting meeting.
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The pound has retreated against its major rivals after the Bank of England's (BoE) decision to leave interest rates unchanged at 4.75 percent.
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Australia&#39;s central bank left its benchmark interest rate unchanged at 5.25 percent Wednesday for an 11th consecutive month. The announcement marks the first time the Reserve Bank of Australia has considered
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The Bank of England left the cost of borrowing unchanged at 4.75 per cent on Thursday after data had shown a slowdown in the housing market, slowing consumer
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The Bank of England announced it was leaving interest rates unchanged at 4.75 percent for a second successive month, amid signs that Britain's red-hot housing market is cooling slightly.
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The pound stayed steady on Tuesday, though slightly down against the dollar, with no change to market expectations that the Bank of England will keep its key repo rate unchanged at a six-year high of 5.50 percent on Thursday.
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LONDON : The Bank of England announced it was leaving interest rates unchanged at 4.75 percent for a second successive month, amid signs that Britain&#39;s red-hot housing market is cooling slightly.
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UK interest rates are set to remain on hold at 5% following the Bank of England's latest meeting.
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The Bank of England votes to leave rates unchanged at 5.25% after its two-day meeting.
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The European Central Bank has kept eurozone interest rates unchanged at 2% for the seventeenth consecutive month. The decision came amid worries about the economy in the 12-nation eurozone.
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The Bank of England is expected to keep UK interest rates on hold at 5.75% following its two-day meeting.
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The Bank of England's rate-setting Monetary Policy Committee (MPC) began its two-day monthly meeting amid broad expectation that interest rates will be left unchanged due to signs of economic slowdown.