Bank of England Makes No Monetary Policy Change This Month

December 9, 2010

Having made no change in its interest rate or asset purchase settings, the Bank of England’s statement today defers any detailed discussion to minutes due December 22nd.  Only then will investors learn what its thinking about economic conditions and prospects or possible future policy biases.  The last British base rate cut was made in March 2009 at which point a long-term asset purchase program was inaugurated.  Several extensions of that program were made in 2009, the last one in November 2009 being an increase of GBP 25 billion to a cumulative ceiling of GBP 200 billion, and that limit was reached in January 2010.

Copyright 2010 Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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