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BoE Minutes Show Central Bank Not Planning Further Stimulus

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.

via Reuters [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
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 Esparza

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