The Bank of England’s Monetary Policy Committee has returned to its usual pattern, voting unanimously to keep interest rates on hold at 0.75% this month. It follows a quarter point rate rise in August, the first since last November. This latest interest rate decision was no big surprise, with the markets not pricing in a further rate hike and analysts predicting the policymakers would keep rates on hold this month. The MPC also voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion.
Business as usual at the Bank of England
This 747 word blog post contains commentary around the latest Bank of England interest rate decision, with rates kept on hold at 0.75% in September, and expectations for future rate rises to be at a gradual pace and to a limited extent.