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Breaking: Bank of England leaves policy settings unchanged as expected
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BoE hold base rate at 0 1% | Mortgage Introducer
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CHAIRMAN S STATEMENT Markets have been dominated by the response to the pandemic through both fiscal stimulus and very loose monetary conditions. In general, these policies have been very positive for risk assets like equities. More recently, as the end of the crisis has become more visible, the expectation of a surge in economic activity has unsettled bond markets and been to the benefit of more cyclical markets and sectors, where earnings momentum is likely to be strong. The portfolio positioning reflects these shifting sands, while recognising that government policies still provide a tailwind. Managed Growth The objective of the Managed Growth share class is long term capital growth. In the six month period, the portfolio outperformed its benchmark and delivered a total return on net assets of 15.5%, compared with the portfolio s benchmark which returned 9.9%. The share price total return was 20.4%. The long-term performance of the Managed Gro
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has held interest rates at 0.1% and predicted that the economy will recover quicker than expected as the UK eases its way out of COVID-19 restrictions.
The BoE has lifted its forecasts and expects annual average GDP growth of around 7.25%, compared to its projection of 5% back in February.
It now projects that the economy will be back at pre-COVID levels by the fourth quarter of 2021.
Frances Haque, Santander UK chief economist, said: “The MPC’s decision to leave Bank Rate unchanged at 0.1% was expected given the path for lifting restrictions continues on track, along with a fall in infection rates supported by the swift rollout of the COVID-19 vaccination programme.
What is monetary policy? Definition and meaning
Monetary policy is the main focus of a central bank, it involves regulating the money supply and interest rates. The US Federal Reserve, the Bank of England, the European Central Bank, the Bank of Japan, the Bank of Canada, The Reserve Bank of Australia and other central banks manage monetary policy to control inflation, stabilize their country’s or region’s currency, and make sure the economy is moving in the right direction.
By regulating what effectively is the cost of money, a central bank can affect the amount of money that is spent by businesses and individuals.
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