Bank of England wary of China risks but UK outlook steady

Bank of England Building, London

Global developments have not "materially" affected the Bank of England's outlook, but "greater downside risks" warrant close monitoring, the Monetary Policy Committee (MPC) said today (September 10), as it kept the bank rate unchanged at 0.5%.

In place of Greece, China now monopolises foreign concerns, while on the domestic front, the BoE is keeping a close eye on labour market conditions, in particular unit wage costs.

The minutes from the MPC's latest meeting, which ended September 9, hone in

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