Thursday, August 05, 2010
Bank rate on hold - no surprise
Posted by David Smith at 12:15 PM
Category: Thoughts and responses

There was an unusual amount of speculation ahead of this month's monetary policy committee (MPC) meeting but anything other than a no change decision would have been a surprise. Bank rate was left at 0.5% and quantitative easing at 200 billion. The Bank's statement said just that, with no elaboration, which should be provided by next week's inflation report.