Market Comment

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Base Rate held at 0.5%

As widely anticipated, the Bank of England held Base Rate at 0.5%, where it has been since March 2009. SPF suspects that it will remain at the level throughout the remainder of 2011 and well into 2012.

While inflation continues to remain well above the 2% target, it was interesting to note that the committee discussed the option for more Quantitative Easing, as challenging conditions for the economic zones both sides of the Atlantic remain a concern.
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