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BOE maintains policy stance but boosts growth outlook

BOE maintains policy stance but boosts growth outlook       The Bank of England (BOE) maintained its easy monetary policy stance by holding steady its key interest rate and target for bond purchases and while it raised its forecast for economic growth sharply, it underscored this outlook remains uncertain and hinges on the evolution of the COVID-19 pandemic.      As in previous months, BOE said it does not intend to tighten monetary policy at least until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2% inflation target sustainably.       The bank s monetary policy committee (MPC) once again kept its bank rate at a rock-bottom 0.1 percent, unchanged since it was cut in March 2020 at the height of the pandemic.

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