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BOE Voted 9-0 to Pause Bond-Purchases on Inflation

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[mserve id=”Central_Bank_BOE.jpeg” align=”left” width=”400″ caption=”Bank of England” alt=”Central Bank of England BOE” title=”Bank of England”]

Bank of England policy makers unanimously agreed to pause their 200 billion-pound ($313 billion) bond-purchase plan this month on optimism that inflation will return to their 2 percent target.

“The February projections did not imply an overwhelming risk of inflation being below the target over the forecast period, and so did not suggest an immediate need for a further relaxation of the policy stance,” the bank said in minutes of the Feb. 4 meeting published today. Still, “for some members, the arguments were very finely balanced.”

Policy makers are trying to judge the strength of the recovery as rising unemployment clouds the outlook months before an election and inflation fluctuates. The Bank of England reiterated today that officials can “provide further monetary stimulus” if warranted.

Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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