TNBiz (TNBiz)
Macroeconomics  |  February 05, 2012 01:03:47

Bank of England will decide on interest rates

LONDON (MEDIAFAX) - Bank of England Bank of England (BoE) on Thursday will decide on the setting of monetary policy. At its last, that is January, the meeting is expected to leave the base rate to a record low 0.50 percent.

Bank of England interest unchanged since March 2009. Bank of England is also at its January meeting decided to maintain the asset purchase program in the range of L 275 billion. The current round of asset purchases will be completed in February, another scope of the program is under discussion.

The economy of Great Britain in the last quarter of last year dropped by 0.2 percent. "GDP in the fourth quarter of 2011 decreased by 0.2 percent, mainly due to the weak manufacturing sector and construction," he said in late January there ONS National Statistical Office in a statement.This means that it is the first quarterly decline since the fourth quarter of 2010, when GDP fell by 0.5 percent. In comparison to the British economy in the period from October to December rose by 0.8 percent. For all of last year the gross domestic product growth slowed to Britain 0.9 percent from 2.1 percent in 2010.

Macrodata and increased expectations that the Bank of England Bank gives economy further monetary stimulus. New measures of the Bank of England is waiting for you at this meeting, where approval is expected to further purchases of financial assets in the market for 50 billion pounds.

"Traditionally, the Bank of England kept rates at 0.5 percent. As in previous months, offsetting the weak British economy and high inflation, when the growth rate of consumer price touches the five percent limit.It is this combination of factors gives a chance for some BoE interest rate changes in either direction, "said the agency Mediafax financial markets analyst at Next Finance Martin Prokop.

Tomáš Králíček,

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