Bank of England

May 8, 2014

After leaving the 0.5% Bank Rate and the GBP 375 billion limit on the asset purchase program unchanged, the Monetary Policy Committee released a boiler plate statement that directed the public to upcoming minutes, which will be released on May 21st, for any further information regarding the latest thinking of committee members.  A similar decision to today’s after the early April meeting was approved unanimously.  British growth continues to surprise on the upside this year, but slack in the economy and low inflation warrant the current accommodative stance.  The Bank Rate has been at 0.5% since March 2009.  Quantitative easing, which was introduced at that same time, reached its present size a year and a half ago.

Copyright 2014, Larry Greenberg.  All rights reserved.  no secondary distribution without express permission.

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