Forex News: 21.03.2007 BoE: Inflation will be down in shorter term
The Bank of England published today the minutes of monetary policy Committee meeting of March 7-8, when the rates were kept unchanged at 5.25%.
The Committee noted that high volatility of financial markets, slower money growth, sterling depreciation and oil prices rise have influenced the decision.
The inflation in the country is at the level of expectations, but the Committee warns that the inflation will be down in shorter term than it was estimated before, following CPI decrease in January.
It is also marked that GDP growth for the first quarter 2007 will be strong, which is testified by consecutive growth of output in manufacturing and energy sectors.
The Committee noted that high volatility of financial markets, slower money growth, sterling depreciation and oil prices rise have influenced the decision.
The inflation in the country is at the level of expectations, but the Committee warns that the inflation will be down in shorter term than it was estimated before, following CPI decrease in January.
It is also marked that GDP growth for the first quarter 2007 will be strong, which is testified by consecutive growth of output in manufacturing and energy sectors.
posted by Kalin Tasev @ 1:08 PM
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