Thursday, September 10, 2009
No change at the Bank
Posted by David Smith at 12:05 PM
Category: Thoughts and responses

Speculation beforehand that the Bank of England might introduce a Swedish-style negative interest rate on commercial bank reserves proved unfounded, as expected. Bank rate was left at 0.5% and the 175 billion programme of quantitative easing maintained. The Bank's unexciting statement is here.