Bank of England kept the base rate at the same level and lowered the forecast for GDP growth to 1.4%

The Bank of England retained the benchmark interest rate at 0.5% per annum. The volume of the program of redemption of state bonds is left at the level of 435 billion pounds, the volume of purchase of corporate bonds - at the level of 10 billion pounds. The regulator lowered the UK's GDP growth forecast for 2018 to 1.4% from the previously expected 1.8%. The forecast of economic growth for 2019 and 2020 is kept at 1.7%. It is expected that inflation in the country will slow down more rapidly and in the second quarter of 2020 and in 2021 will fall to a target level of about 2% compared to 2.5% in March 2018. Following the results of the meeting on May 10, the Central Bank said that in the coming years “only a limited tightening” of monetary policy will be required, so traders are waiting for the next rate increase by the Bank of England only in February 2019.

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