Similar to the US Federal Reserve (the Fed) and the European Central Bank(ECB), the Bank of England (BoE) on Thursday also downplayed the current inflationary pressure in the markets. In their announcement, the bank kept interest rates unchanged, sticking to their accommodative monetary policy stance and labelling the current rise in inflation as “transitory”. The bank did however note that short-term upward pressure on prices might be higher than initially anticipated.
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