In Helsinki, Jean-Claude Trichet, the ECB president, may signal the near-term
course of planned interest movements and if he uses the code "strong
vigilance" on inflation, the markets will pencil in another rate hike in
Trichet will begin a press conference at 1:30pm Irish time; 2:30 pm in Helsinki:
Webcast from 1:30 pm (recording after 3 pm).
In London, the the Bank of England’s Monetary Policy Committee today voted to maintain the official bank rate at 0.5%. The Committee also voted to maintain the stock of asset purchases/bond buying commonly known as printing money, financed by the issuance of central bank reserves at £200 billion.
The Committee’s latest inflation and output projections will appear in the Inflation Report to be published on Wednesday 11 May. The minutes of the meeting will be published at 9.30am on Wednesday 18 May.
The previous change in rate change was a reduction of 0.5 percentage points to 0.5% on 5 March 2009. The programme of asset purchases financed by the issuance of central bank reserves was initiated on 5 March 2009. The most recent change in the size of that programme was an increase of £25bn to a total of £200bn on 5 November 2009.
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