No Changes from the Bank of England

July 7, 2011

The Bank of England left its overnight target interest rate at 0.5%, its level since March 2009, and the asset purchase ceiling unchanged at GBP 200 billion.  That level was reached in January 2010. A statement on the Bank of England web site merely notes that minutes of today’s meeting will be published on July 20.  Only then will the vote of Monetary Policy Committee members and their latest ideas on policy be revealed.  Another 7-2 vote seems likely, with Dale and Weale recommending a 25-bp rate hike, seems probable.  A new quarterly Inflation Report will be published by the central bank next month.

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

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