Bank of England Held Rates With No Statement

UK interest rates have been kept unchanged at their record low of 0.5% by the Bank of England.

The Bank’s Monetary Policy Committee (MPC) also left the £375bn quantitative easing stimulus programme unchanged.

Analysts now hope that the Bank will use next week’s inflation report to signal changes to its policy of forward guidance.

There had been speculation that the Bank would issue a statement alongside the latest interest rate decision.

However, in announcing the hold in rates and quantitative easing, the MPC said it, “reached its decisions in the context of the monetary policy guidance announced alongside the publication of the August 2013 Inflation Report”.

via BBC

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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