BOE Leaves Bank Rate Unchanged At 0.5% At June Meeting
–BOE QE Also Left Unchanged At Stg200bn
LONDON (MNI) – The Bank of England Monetary Policy Committee
produced no surprises at its June meeting, leaving Bank Rate on hold
at 0.5% and issuing no policy statement.
A Market News survey conducted prior to the meeting found no
analyst expecting any change in policy. Analysts attached a negligible
median chance of a hike at this meeting.
Bank rate was first cut to 0.5% in March 2009 and has been on hold
Only a small number of analysts now believe that the BOE will hike
rates in August, as semaphored by the May Inflation Report. Many now
believe a hike will not happen until early 2012.
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