Mexican Media Brands
No Hike in U.K. Interest Rates Likely for Many Months
The Bank of England now expects the British economy to grow 2.8% in 2015, up from its previous 2.5% forecast.
#economics
Share
The Bank of England now expects the British economy to grow 2.8% in 2015, up from its previous 2.5% forecast. But the central bank left the U.K.'s interest rate unchanged at 0.5% for the 78th consecutive month, the Associated Press reports.
The bank's monetary policy committee also decided against further economic stimuli.
Analysts say the BoE is in no hurry to raise rates because of the U.K.'s zero inflation rate. The bank considers a 2% rate normal and indicated previously it wants the British economy to achieve that level in two years.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.