Wednesday, September 19, 2007
Banks says upside risks recede
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

Even before the Fed's half-point Fed Funds rate cut to 4.75% last night, the Bank of England's monetary policy committee was shifting its stance. The minutes of its September meeting reveal not only a 9-0 vote in favour of no change in Bank rate, as expected, but also a removal of the upside risks it had identified in the August inflation report. Instead, the minutes lay stress on the uncertainty. They are available here.