Bank of England’s Monetary Policy Committee (MPC)maintain Bank Rate at 0.1%.
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Board decided to maintain the targets of 10 basis points for the cash rate and the yield on the 3-year Australian Government bond
Inflation averages 2 percent; Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent
The interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively.
The overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.
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For bold investment was needed to jump-start the economy and accelerate the distribution of vaccines to bring the coronavirus under control.