BoE warns of inflationary pressure as it holds 0.1% rate

The central bank says it expects inflation to rise to 4% by the end of 2021

Mike Sheen
clock • 2 min read
Premier Miton chief investment officer Neil Birrell
Image:

Premier Miton chief investment officer Neil Birrell

The Bank of England’s (BoE) monetary policy committee (MPC) has voted unanimously to maintain its key interest rate at 0.1%, as the central bank announced that it expects inflation to continue to rise above 2% and not fall back to its target for “around two years”.

Its quarterly monetary policy report, published yesterday (5 August), updated the bank's forecasts to predict the UK inflation rate to continue to rise beyond 4% by the end of 2021, before falling ...

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 Investment

Industry responds to scaling back on net zero

Industry responds to scaling back on net zero

IGG and Aon say pension schemes should not be deterred from their commitments

Jasmine Urquhart
clock 22 September 2023 • 2 min read
Smart Pension invests £550m in low carbon stewardship fund

Smart Pension invests £550m in low carbon stewardship fund

Fund will offer investors split voting to ensure more robust investment stewardship

Martin Richmond
clock 21 September 2023 • 2 min read
Partner Insight: Private credit - Perspectives on opportunities and risks

Partner Insight: Private credit - Perspectives on opportunities and risks

Even as traditional fixed income offers more attractive rates, investors continue to explore alternative credit for its stability.

Randy Schwimmer, Co-head of Senior Lending at Churchill, a Nuveen company
clock 21 September 2023 • 7 min read
Trustpilot