The Bank of England moved further away from adding more stimulus to Britain’s economy this month and seemed less concerned by rising market borrowing costs, minutes of its latest policy meeting showed on Wednesday.
The two current policymakers who in previous months had seen a compelling case for more asset purchases to stimulate activity retreated from this position at the September meeting following signs of strengthening economic growth.
The nine-member Monetary Policy Committee (MPC) also chose not to repeat July and August’s warning that bond market yields were rising faster the data warranted – a rise the Bank had previously worried might be a headwind to the recovery.
It said “promising” data over the past month meant output in the third quarter was likely to be around 0.7 percent, higher than the 0.5 percent it forecast in August. It also predicted growth could strengthen further towards the end of the year.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.