You all probably did not miss this but just in case ... significant remarks in the Bank of England statement Thursday.
Justin was all over it in his post following the meeting:
- Hiking rates may come before QE ends ...
- All members in this group agreed that any future initial tightening of monetary policy should be implemented by an increase in Bank Rate, even if that tightening became appropriate before the end of the existing UK government bond asset purchase programme.
This cracks the door open for a rate hike before the end of this year (a possibility only, and one the market is beginning to price).
There are more surprises from the Bak highlighted in Justin's post. Check it out.
