One committee member voted against the decision but the MPC voted unanimously to maintain an economic stimulus program which purchases £375 billion ($581.8 billion) in financial assets each year, the bank said in a statement.
Oil prices remained under pressure on worries about oversupply and weak global demand, but gold bucked the trend although by not enough to see the precious metal avoid its longest weekly losing streak since 1999.
Monthly job growth has averaged 211,286 so far this year, a level suggesting employers are confident the economy will continue to expand and require more workers. At 62.6%, it remains at levels not seen since the late 1970s.
That, at least, is the word from most economists. This year is the first since then that the national unemployment rate for black Americans has dipped below the double-digit mark-and that feat has only been accomplished in 11 states.
“We don’t have the tools to be able to address the structure of unemployment across groups, but a stronger economy generally really does tend to be beneficial to all Americans and that’s what we are working towards”, she said. Economists surveyed by...
Top Wall Street banks still expect the Federal Reserve to raise interest rates in September, but a growing number now believe the central bank is likely to only hike once this year, a Reuters poll found on Friday.
The unemployment rate is forecast to hold steady at a seven-year low of 5.3 percent, near the 5.0 percent to 5.2 percent range most Fed officials think is consistent with a steady but low level of inflation.
Euro zone bond yields stabilised on Thursday, after a sharp rise the previous day fuelled by concern that the Federal Reserve and the Bank of England were heading for their first interest rate increases in nearly a decade.
The central bank on Tuesday kept the repo rate, or the rate at which it lends money to commercial banks, unchanged at 7.25%, and the cash reserve ratio, or the amount of funds that the banks have to keep with the Reserve Bank of India (RBI), at 4%.