At its meeting on June 13, 2012, the Monetary Policy Committee (MPC) maintained the Bank Rate at 9.5 percent. Domestic inflation has fallen for four consecutive months in early 2012, reaching 7.5 percent in April. The decline has been evident across most categories of goods and services, and the underlying trend remains downwards. It is therefore expected that inflation will to continue to converge on the medium-term objective range of 3 – 6 percent.

• Read the MPC statement