The central bank held its main interest rate steady, but warned<br />that inflation, after rising at a faster than expected pace in May, could remain above the central bank’s target “for an extended period.”<br />The central bank’s monetary policy committee voted 5 to 3 to keep its benchmark interest<br />rate at 0.25 percent, the level since August when it was cut to a historic low.<br />Booz Allen Hamilton, the consulting firm, said on Thursday<br />that the Justice Department was conducting an investigation related to some of its cost accounting and indirect cost charging practices with the United States government.<br />The Bank of England said that inflation, at 2.9 percent, had risen well above the<br />monetary policy committee’s expectations and could exceed 3 percent by autumn.<br />Many economists had expected the central bank to keep the rate steady, but not by such a narrow vote.<br />Movers: Tech Stocks Decline, and Booz Allen Is Investigated -<br />By THE NEW YORK TIMESJUNE 15, 2017<br />We’re following major market developments throughout the day.
