BOE leaves bank rate unchanged at 5.25% as expected ...Middle East

Prior 5.25%Bank rate vote 3-6 vs 3-6 expected (Greene, Haskel, Mann voted to raise by 25 bps)Policy likely needs to be restrictive for extended period of timeWill continue to monitor closely inflation persistence and resilience in the economy as a wholeFurther tightening in monetary policy would be required if there were evidence of more persistent inflationary pressuresStatement details to follow.. This article was written by Justin Low at www.forexlive.com.

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