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BOE Monetary policy summary and minutes of the Monetary Policy Committee meeting
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 10 May 2017, the Committee voted by a majority of 7-1 to maintain Bank Rate at 0.25%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee also voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435 ... (full story)
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BOE Says Smooth Brexit Could Mean Faster U.K. Rate Increases
The Bank of England said it may need to raise interest rates faster than the market suggests, assuming that Brexit goes well. While it didn’t say what deal would be best for the U.K., its latest forecasts are based on the assumption that the adjustment to a new relationship with the European Union is “‘smooth.” That means avoiding the so-called cliff edge where the U.K. leaves after the two-year negotiation period without transitional arrangements in place. If the economy grows as expected, “then monetary policy will need to be tightened by a somewhat greater extent over the forecast period than the very ... (full story)
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