The last time the BoE moved its key interest rate was in March 2009, when the financial crisis was at its peak and the British economy was thirsty for liquidity. Six and a half years later, the financial crisis is over but the BoE is still afraid of touching its near-zero rate. The last MPC…
It may be an exaggeration to claim that the current pension deficits of UK companies are entirely the result of the monetary policy action followed by the BoE, but it is not that far from the truth. In March 2011 the total deficit on the books of FTSE 350 companies was £20 billion. One year…
In its first triple release, dubbed “Super Thursday” – a triple bill of data comprising the MPC monetary policy decision, the minutes from the decision and the inflation report – the Bank of England kept its main interest rate unchanged at 0.5pc. While the decision was widely expected, there are a few points that are…
