Bank of England looks set to keep rates steady
The bank kept rates at 0.5% — their level since the depths of the financial crisis in 2009 — at its monthly policy meeting which ended yesterday. More attention will be paid to economic projections the bank is due to publish on November 12, which will reflect clouds that have gathered over Britain’s fast-recovering economy since the bank made its last quarterly forecasts in August.
A combination of weak inflation that could fall below 1% soon, still-feeble wage growth and the risk of a return to recession in the eurozone, has already prompted some of the bank’s top officials to say that they are not ready to start returning to more normal monetary policy.
