At its monetary policy meeting on 5 May, the Bank of England (BoE) left both the Bank Rate at 0.50% and the asset purchase facility (quantitative easing) unchanged at GBP 200 billion. The decision was broadly anticipated by the market, as a slight moderation in inflation in March along with feeble growth eased pressure on the Bank to take immediate action. As was the case in previous meetings, three out of the nine members of the Monetary Policy Committee (MPC) voted to tighten the monetary policy, again, the most hawkish being Andrew Sentance who voted for a 50-basis-point hike. The remaining six members, including BoE governor Mervyn King, voted to maintain the current stance. The next MPC meeting will be held on 9-10 June, with most analysts expecting no interest rate hike.
United Kingdom Monetary Policy
Bank of England stance unchanged
May 18, 2011
Looking for forecasts related to Monetary Policy in United Kingdom? Download a sample report now.
United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.