On the heels of last week's decision by the Federal Reserve to trim stimulus, central banks in Europe will probably maintain a steady course this week. The European Central Bank and the Bank of England (BOE) will hold their key rates at record lows, according to economists surveyed by Bloomberg . The Reserve Bank of Australia will also keep its benchmark rate at a record low. In the US, employment probably rebounded in January and the jobless rate held at a five-year low, while price increases in Brazil were the smallest in more than a year. BOE policy meeting The Bank of England's nine-member monetary policy committee will leave its key rate at a record-low 0.5 percent and its bond-purchase program target at 375 billion pounds ( $617 billion ), according to Bloomberg surveys before the decision on Feb. 6 . BOE officials are under pressure to reconsider their forward guidance policy, under which they pledged not to consider raising the benchmark rate until unemployment falls to 7 percent, after data showed the UK economy grew last year at the fastest annual pace since 2007. Governor Mark Carney , who is due to present new economic forecasts on Feb. 12 , said the recovery has some way to run before it would be appropriate to consider moving away from the emergency setting of monetary policy. "We expect no change in policy at the February meeting," Kevin Daly , chief UK economist at Goldman Sachs Group Inc. , wrote in a note to clients on Jan. 29 . Revisions to the guidance framework will probably be announced on Feb. 12 and "we expect the MPC to replace the existing framework with one based on a broader range of variables. Official rates are likely to remain on hold for some time." ECB rate decision The European Central Bank on Feb. 6 will keep its benchmark interest rate unchanged at a record-low 0.25 percent. Officials will have to decide whether recent volatility in financial markets warrants a policy response. While economists from Barclays Plc to Commerzbank AG have brought forward expectations for an interest-rate cut, Dutch Central Bank Chief Klaas Knot said in an interview that he does not see an imminent need to act. "The most recent data give the ECB no reason to reassess the inflation outlook and money market tensions seem to be abating," Dirk Schumacher , an economist at Goldman Sachs Group Inc. in Frankfurt , said in a note to clients Jan. 28 . "We, therefore, do not expect any measures to be taken or announced at next Thursday's meeting, although the overall tone of the press conference should be dovish." Australian Central Bank Australia's Central Bank will probably keep its benchmark interest rate at a record-low 2.5 percent at its first policy meeting for the year on Feb. 4 , according to all 34 economists surveyed by Bloomberg . Economists will be focusing on the Reserve Bank of Australia's comments on the currency and indications it may have dropped an easing bias. "The key issue is whether it would change the guidance it has held since the August cut," Paul Brennan , chief economist in Australia for Citigroup Inc. , said in a research report. While it was prudent to hold the cash rate steady while continuing to gauge the effects of earlier reductions, it didn't want to close off the possibility of reducing it further, should that be appropriate to support sustainable growth in economic activity, consistent with the inflation target. The RBA will issue updated economic forecasts in its statement on monetary policy on Feb. 7 .
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