No Change Made in British Monetary Policy

June 9, 2011

Today’s Bank of England statement added no fresh information.  This is typical when, as now, policy changes were not changed.  The Bank Rate has been pinned at 0.5% since March 2009.  The asset purchase program was last raised in November 2009 by GBP 25 billion to GBP 200 billion, and that limit was exhausted at end-January.  Minutes of today’s meeting will be released June 22.  Background information can be read in my earlier preview.

Copyright Larry Greenberg 2011.  All rights reserved.  No secondary distribution without express permission.

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