- CNTV English - CCTV News

BOE maintains bank rate at 0.5%

05-06-2011 10:18 BJT

Watch Video

Play Video

The Bank of England has kept its key interest rate at 0.5 percent, a widely expected move after a run of subdued data, which has cast doubt on the strength of Britain's economic recovery.

Inflation is double the BoE's target at 4 percent, and a new set of internal quarterly forecasts is likely to show it peaking even higher in the coming months, at just under 5 percent. But the majority of the Monetary Policy Committee have long insisted that Britain's above-target inflation is due to a series of one-off shocks. And tepid first-quarter growth and several sub-par April industry surveys are likely to strengthen their conviction, that domestic inflation pressures are minimal.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program