BoE alert to second-round effects from low inflation, minutes show

Bank of England unanimously vote to keep rates on hold

The Bank of England’s monetary policy committee (MPC) will remain “watchful” for signs that continued low inflation could have a more “persistent” second-round effect on wages. The MPC left the key rate on hold at 0.5%, where it has sat now for more than eight years.

A tighter labour market and rising productivity were “expected to support real incomes and consumption”, the committee said, in the minutes from the meeting. Both the unemployment rate and average earnings had grown higher than

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