BoE to release instant information on rate plans

The Bank of England will provide instant information about its interest rate discussions and plans to hold fewer policy meetings under the latest set of changes put forward by governor Mark Carney.

In an overhaul of the way the bank reveals its thinking on monetary policy, the BoE said it would publish minutes of its debates alongside its decisions, rather than wait nearly two weeks as it does now. The change would come into effect in August 2015.

“By removing the present drip-feed of news... in favour of a single monetary policy announcement, we believe these arrangements will enhance the effectiveness of our monetary policy communications, making the policy signals we send as clear as possible,” Carney said.