Bank of England in no hurry to hike UK rates

Last week’s meeting of the Bank of England’s Monetary Policy Committee (MPC) concluded, in line with market expectations, for no changes to policy. The Bank rate was kept at 0.5%, where it has been since mid-2009.

However, the February edition of the Bank’s ‘Super Thursday’ — so called because the policy decision, meeting statement and minutes, inflation report, and press conference all happen on same day — did indicate an increased level of caution amongst members of the MPC.

For the first time in seven months, there was no vote for a rate increase, with the decision to leave rates unchanged unanimous.