Markets
London - The FTSE 100 rose 33.17 points to 5,795.88 yesterday, as base metals advanced and minutes from the Bank of England’s last meeting reduced speculation of an imminent interest-rate increase. Minutes from the BOE’s March 10th meeting showed the bank saw “merit in waiting” to examine the effect of higher oil prices on inflation. Policy makers voted 6-3 to keep interest rates on hold this month. Gains were limited after Osborne said the British economy will grow more slowly than forecast in 2011 and the U.K. will need to borrow more than previously thought in the next five years. The Office for Budget Responsibility predicted annual growth this year of 1.7%, down from the 2.1% forecast in November.
[click here read more]
Posted: March 24th, 2011 under Asset Management.
Comments: none