No change for the BoE in May 2011

In May 2011, the Bank of England maintains its target rate (at 0.5%) and the quantitative easing program.

No change for the BoE in May 2011
As expected, the BoE let its monetary policy unchanged in May. The target rate stays at 0.5% (stable since March 2009) and the quantitative easing program is maintained at £200 bn (stable since February 2010).

Economic Impacts
The BoE maintains a very accommodative monetary policy despite inflation above 4% YoY. The economic outlook is considered too weak for any tightening. The risk is to fall into stagflation.


Thursday, May 5th 2011

World Economic Snapshot
CB 0.25% 1.50% 6.56% 0.1% 0.5% 1% 0.25% 12.25%
GDP 2.3% 2.5% 9.8% 2.5% 1.8% 2.9% 2.4% 4.2%
Price 3.6% 2.7% 5.5% 0.3% 4.5% 3.3% 0.3% 6.1%
UR 9.2% 9.9% - 4.7% 7.7% 7.4% 3.0% 6.0%

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