BoE minutes: Bank held rates on delayed recovery
Minutes published on Wednesday of the Bank of England's Monetary Policy Committee (MPC) early May meeting show that depressed economic activity in the first quarter led rate-setters to hold the benchmark Bank rate flat, despite near term inflation risks.
Consumer price inflation had picked up to 3.4% in March, mainly reflecting increased contributions from food and energy prices.
The committee agreed that the near-term outlook for inflation was somewhat higher than in February and suggested that
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