Bank of England expected to keep interest rates on hold
AFP, November, 2004
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LONDON (AFP) — Bank of England policymakers began meeting to decide on the level of British interest rates, amid widespread expectations that the cost of borrowing would remain unchanged at 4.75 percent.
The central bank's nine-member monetary policy committee (MPC) began their two-day gathering in London, with a decision on the main official "repo" rate -- the rate of interest at which the British central bank lends to commercial banks -- due Thursday.
All 31 forecasters polled by AFX News, AFP's financial subsidiary, said they expected the MPC to keep borrowing costs unchanged for the third month in a row following a raft of recent weak economic data.
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The committee has raised the cost of borrowing by a quarter-point on five separate occasions since last November, in moves aimed ...
