Bank of England holds rates amid stronger growth and inflationary outlook

Mike Sheen
clock • 2 min read
The interest rate will remain at 0.1%
Image:

The interest rate will remain at 0.1%

The Bank of England’s monetary policy committee has voted unanimously to hold its key interest rate at 0.1%, with the central bank now forecasting a stronger outlook for GDP growth and inflation.

GDP growth is now expected to reach 7.3% in 2021, while the inflation rate expected to jump from 0.7% closer to the bank's 2% target in Q2 and Q3, according to the May MPC report. The bank also voted...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Industry

Buzz: Have you chosen a GMP equalisation method?

Buzz: Have you chosen a GMP equalisation method?

This week's poll looks at GMP methods and combatting pension scams

Professional Pensions
clock 23 May 2022 • 1 min read
Andrew Cooper, Senior Consultant, Aon

Industry Voice: Building your journey to buyout ⁠— brick by brick

You have determined that buyout is your endgame destination and that your members and their liabilities will ultimately be passed to an insurer. But what does that really mean for your scheme and where are you on this journey?

Andrew Cooper, Senior Consultant, Aon
clock 23 May 2022 • 3 min read
TUC calls for action to reduce gender pension gap

TUC calls for action to reduce gender pension gap

Gender pension gap more than twice the level of the gender pay gap

clock 20 May 2022 • 1 min read
Trustpilot