U.K. Pound Stays Lower as Bank Keeps Benchmark Interest Rate Unchanged

(Bloomberg) -- The pound stayed lower against the
dollar after the Bank of England kept its benchmark interest rate
unchanged at a six-year high as predicted by most economists.

The nine-member Monetary Policy Committee, led by Governor
Mervyn King, kept the Bank Rate at 5.5 percent today, as predicted
by 58 of 62 economists in a Bloomberg News survey. The pound has
risen this year after two surprise increases in rates and a report
showing inflation at a decade high of 3.1 percent.


Read more at Bloomberg Currencies News

Bank of England Will Probably Keep Rate Unchanged, Raise Again by August

(Bloomberg) -- The Bank of England will probably
leave its benchmark interest rate unchanged at a six-year high
today, as it assesses whether four previous increases are enough
to bring down inflation, a survey of economists shows.

The nine-member Monetary Policy Committee will keep the Bank
Rate at 5.5 percent at noon today after raising it to the highest
since April 2001 last month, according to 58 out of 62 economists
in a Bloomberg News survey. The bank will increase the rate a
quarter-point by its August meeting, a separate survey shows.


Read more at Bloomberg Bonds News

Nigeria cuts benchmark interest rate by 200 bps

(Reuters) - Nigeria's central bank has cut its benchmark interest rate by 200 basis points to 8 percent, the bank said in a statement on Wednesday.

The bank also narrowed the interest rate corridor around the benchmark Monetary Policy Rate (MPR) to +/- 250 basis points, from +/- 300 basis points, the bank added.


Read more at Reuters Africa