About: http://data.cimple.eu/news-article/a1760355edaf3a09ef693525e6a57e594cc141eec299344bd30000c3

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About: http://data.cimple.eu/news-article/a1760355edaf3a09ef693525e6a57e594cc141eec299344bd30000c3 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	The Bank of England said Thursday it has kept its main interest rate at a record-low 0.1 percent, but warned that inflation was set to temporarily breach 3.0 percent. "The ... central expectation is that the economy will experience a temporary period of strong GDP growth and above-target CPI inflation, after which growth and inflation will fall back," the BoE said in a statement after also holding its stimulus. Inflation was meanwhile set to move higher above the British central bank's 2.0 percent official target, amid intensifying global concerns over an inflationary spike as economies reopen. "Inflation is expected to pick up further above the target, owing primarily to developments in energy and other commodity prices, and is likely to exceed 3.0 percent for a temporary period," the BoE warned in minutes from its latest gathering. The world's central banks are grappling with fears of a inflationary spike and the health of post-Covid economic recovery. Both the US Federal Reserve and European Central Bank kept their own ultra-low rates and economic support measures intact in recent weeks, insisting high inflation is a temporary side-effect of the global rebound. UK inflation in May hit 2.1 percent -- the highest level since before the pandemic -- with clothing, fuel and oil prices rebounding as the economy gradually reopens. The BoE's monetary policy committee remains keen not to snub out any nascent economic recovery by raising rates too soon. rfj/lth
schema:headline	Bank of England keeps low rate, sees 'temporary' inflation spike
schema:mentions	Consumer price index European Central Bank Kingdom of England Interest rate Commodity World energy consumption Federal Reserve Inflation Gross domestic product Pandemic United Kingdom Conway polyhedron notation Monetary Policy Committee (United Kingdom)
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-06-24 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	76 (xsd:integer)

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