Bank of England set to hold rate at 16-year high
The Bank of England was set Thursday to keep its main interest rate at a 16-year high, resisting a cut as UK inflation cools at a slower pace than forecast.
The BoE is widely expected to maintain borrowing costs at 5.25 percent for a sixth meeting in a row, mirroring a wait-and-see approach by the US Federal Reserve and European Central Bank.
The BoE will announce its monetary policy at 1100 GMT following a regular meeting and on the eve of official data expected to show that the UK economy has exited a mild recession ahead of a general election due this year.
[Read More]